TenCate protective & safety fabrics market to be develop in H2
23 Aug '07
3 min read
Sales in the first half of the year amounted to € 426 million (organic +9%). The currency effect on sales amounted to -4%. The operating result rose to € 29.9 million (+27%, of which 19% organic). The currency effect on the operating result amounted to -7.5%. In addition the EBIT margin improved to 7.0% (H1 2006: 5.9%).
The net profit, adjusted for divestments, rose by 20% from € 16.1 million to € 19.3 million. The currency effect on the net profit amounted to -5%. Adjusted for the above mentioned additional amortisation and depreciation charges as a result of acquisitions, net profit ('cash earnings') rose by 26.7%.
Earnings per share (adjusted for the result from divestments) rose by 10% to € 0.85. During the first half of the year the share capital increased by 2,492,866 ordinary shares due to a share issue and the stock dividend. There are at present 23,556,158 shares in issue.
TenCate is maintaining its previously issued forecast for 2007, under which the net profit (adjusted for the results on divestments) is expected to increase by at least 25% barring unforeseen circumstances.
The expectations for the second half of 2007 are positive. Strategically TenCate operates in growth markets, in which significant acquisitions have been made. With its focus on core markets TenCate has leading positions in these market niches.
In the case of the sector Geosynthetics & Grass and the market group TenCate Aerospace & Armour Composites, higher sales and an increased profit contribution are expected in relation to the first half of the year.
The market for protective and safety fabrics is also expected to continue developing strongly in the second half of 2007. After the three previously announced US Army orders, the US Marine Corps has now also selected the Defender M fabric for fireresistant protection.
marketing@alchempro.com
