Numico reports strong H1 results - Brief Article

Eurofood, August 31, 2000

Royal Numico, the Dutch manufacturer of specialised nutrition products has released a sturdy set of first half-year results. The group have seen a sales growth of 125% rising to 1.89bn [European Dollar and a net profit of around 169m [European Dollar. Numico is the market leader in Europe, well known for its infant nutrition through brands such as Cow & Gate, Milpula and Nutricia. Numico also supply hospitals with special range of enteral clinical nutrition dietary products and disease specific nutrition. The sales of Numico's acquisitions, which include the recent US$1.8bn acquisition of US firm Rexall Sundown, GNC (General Nutrition Companies) and Enrich, contributed a total of 971m [European Dollar to the sales growth.

Infant nutrition sales rose by 11.7% to 451m [European Dollar encouraged by significant improvements in southern Europe, eastern Europe, Russia and parts of the Asia Pacific region.

EXPANDING IN ASIA

The group has also acquired a factory producing infant nutrition to help increase sales in both Africa and Asia. Clinical nutrition saw sales rise 15.6% reaching 201m [European Dollar. Elsewhere, the continuing development of the Nutricia brand of dairy products and drinks saw sales grow to 191m [European Dollar rising 8.1%. Numico stated that all its operations are contributing to profits and the continuing growth of the group. Furthermore, based on the impressive H1 results the group has raised its 2000 forecast for full cash earnings growth from 40% to 70%.