Naturex (Avignon, France) announced its Q1 financial results for 2011, marking a 17.5% increase in organic sales for a operating margin of 12.2% of revenue and doubling its net income. Consolidated revenue for Q1 2011 reached €60.4 million, up 24.0% in current currencies (+17.5% in constant currencies).
Additionally, the company’s gross margin stands at €37.4 million, up 30.8% from Q1 2010, and operating income recorded a sharp increase of 47.2% for €7.8 million. Also, net profitability now represents 7.5% of the company’s revenue.
"These excellent results for the quarter confirm the solid performance of 2010 and are very closely in line with the yearly targets for growth and profitability announced for 2011,” said Jacques Dikansky, president, CEO and founder of Naturex. "During the upcoming quarters, we are going to continue with our organic development by combining our scientific, technical and sales expertise in order to offer natural ingredients with a high value added, in line with our customers' expectations, in all of the countries where we are located.”