Naturex’s first-quarter profit surged 57.2% amid a jump in organic sales growth, despite a rise in costs due to reorganization measures made in 2012.
For the quarter, the natural specialty ingredients manufacturer said its net income rose to €6.7 million from €4.2 million a year ago. First-quarter revenue rose 13.2% to €83.2 million from €73.5 million a year ago. At constant exchange rates, excluding a 1.2% negative currency effect, sales grew 14.4%. This included organic growth of 12.5% plus 1.9% from acquisitions Valentine Agro Ltd. and DBS (Read more about the company's Q1 sales results released in April).
Against the backdrop of rapid growth, Naturex said its current operating margin remained steady in relation to the 2012 first quarter at 12% despite the rise in staff costs and external expenses linked to group reorganization measures in 2012. The company said these changes will weigh on 2013 full-year results on an incremental basis, as well as the still limited contribution of companies integrated in 2011/2012.