Greece's Neochimiki FY net 97.1 mln eur vs 12.6 mln, lifted by unit's placing |
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Mon, 12 Feb 2007 10:06
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ATHENS (AFX) - Detergents and chemical products maker Neochimiki said net income rose to 97.1 mln eur from 12.6 mln eur last year and EBITDA was up 123.5 pct at 61.6 mln eur.Profitability was enhanced by total capital gains of 73.9 mln eur from a placing of subsidiary Lamda Detergents shares. Excluding this, net income was up 83.4 pct year-on-year at 23.15 mln eur.Group revenues rose 112 pct to 301.8 mln, on account of organic growth and acquisitions.Neochimiki intends to restructure its current debt by issuing a convertible bond of up to 100 mln eur as well as by selling its entire 34 pct stake in unit Lamda Detergent.cheryl@euro2day.grcn/lamCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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AFX economic and business calendar to Friday Feb 23 