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Naturex Announces Q1 2011 Financials
Posted: April 25, 2011
Naturex (Avignon, France) released its consolidated revenues for the first quarter of the 2011 fiscal year, posting high revenue growth during the first quarter. Turnover increased to €64.0 million, up 24% from €51.6 million the previous year. With a like-to-like exchange rate, organic growth comes out to be 17.5%. This puts Naturex ahead of its annual growth objectives and goal of double-digit growth in sales.
The company’s divisions’ performances over the first quarter of 2011 illustrate both the positive effect of a wider product portfolio and the business synergies produced by the diversity of ranges that have been beneficial in all three markets. The food and beverage business division recorded dynamic growth in sales, up by 32.4% and giving revenues of €40.2 million, compared to €30.3 million for the first quarter of 2010. The nutrition and health business unit also continues its growth upward, focused primarily in the food supplement sector, with revenues up by 6.2% to reach €19.6 million. And the personal care business division is still counted as highly promising, according to the company.
Additionally, Naturex’s three anointed geographic regions have made an input to the growth in sales during the first quarter of 2011, with Europe and North America making particularly significant contributions. In the Asia/Oceania zone, growth remains as strong as ever in Asia. This said, climatic upheavals and floods in Australia have led to a slight dip in sales over the first quarter of 2011, on a like-to-like basis, and Australia accounts for 61% of sales in this area. Also, emerging markets recorded a promising level of sales, particularly in Asia where the company opened a new sales office in Korea and strengthened its existing structure in China. The same goes for Latin America, where Naturex opened a business subsidiary in Mexico in addition to its operations in Brazil.
“We are very happy with this start to the fiscal year, which gives us a significant headstart over our annual objectives,&rdquot says Naturex founder and CEO Jacques Dikansky. “Our international teams are hard at work to pursue development and achieve further business successes. The trade fairs we have attended in recent months have confirmed the quality of our positioning, this is a boost for our confidence in the years ahead.”