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Greece's Lamda Detergent FY net 13.9 mln vs 8.4 mln as co prepares merger

ATHENS (AFX) - Greek household chemicals company Lamda Detergent said that its net income rose to 13.9 mln eur from 8.4 mln eur last year as it prepares to merge with three other Greek personal care and household chemicals production companies.

Published : Mon, 12 Feb 2007 10:55
By : Agencies
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ATHENS (AFX) - Greek household chemicals company Lamda Detergent said that its net income rose to 13.9 mln eur from 8.4 mln eur last year as it prepares to merge with three other Greek personal care and household chemicals production companies.

Lamda Detergent's sales rose 56.9 pct year-on-year to 149 mln eur while EBITA rose 80.4 pct to 28.7 mln eur.

The company stated that currently 40 pct of its production plants are operating below maximum capacity.

The Board of directors of Lamda Detergent plans to propose a merger with Veterin SA, Ebik SA and Elpharma SA under the new name of 'Alapis' which will specialize in the personal care and household chemical products industry.

Veterin will acquire the other three companies.

Total shareholder equity of the consolidated company is expected to amount to 235 mln eur with net borrowings at about 130 mln eur.

2007 expectations for Alapis are roughly 350-370 mln eur in sales, EBITDA at 80-90 mln eur and net income of 40-50 mln eur.

cheryl@euro2day.gr

cn/lam

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