Parmalat considers growth by 'external means'; plans 150-170 mln capex in 2007 |
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Published
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Thu, 22 Mar 2007 11:11
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MILAN (AFX) - Parmalat SpA said it would consider growing through external means and said it plans investments of 150-170 mln eur in 2007, of which some 50-70 mln eur will be reserved for strategic initiatives.In 2006 Parmalat made investments of 93.5 mln eur.Parmalat also said that in 2008, like in 2007, it targets a growth in net sales of 3-5 pct, and EBITDA growth of 12-15 pct.In presenting full-year results to financial analysts, Parmalat chief executive Enrico Bondi noted that, 'we can now consider growing through external means'.Parmalat yesterday said it posted a full-year net profit of 192.5 mln eur against a loss of 0.3 mln eur in 2005 thanks to the group's industrial activities and the positive impacts of legal settlements finalized last year.This beat the Thomson First Call consensus of 122.62 mln eurParmalat said it will focus on product innovation with the launch of new products and new packaging.yael.schrage@thomson.comysc/rfwCOPYRIGHTCopyright AFX News Limited 2007. 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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Parmalat FY sales 3.854 bln eur, EBITDA 354 mln eur, below forecasts UPDATE 