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Amsterdam, 27 April 2006
Strong margin improvement drives growth in operating income in Q1 2006
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Zach Miles, Vedior's Chief Executive, said: "I am pleased that we have achieved such strong increases in operating income in two of our key markets; France and the Netherlands. The results for the first quarter reaffirm the encouraging trends we identified towards the end of 2005 and bode well for the remainder of the year. With double digit sales growth in four out of our six major regions, we see good leverage benefiting our bottom line as a result of improved business mix and operating efficiency. At the same time, gross margins have increased providing added impetus to our profitability. The start of the year has also seen us make excellent progress with our acquisition programme with the addition of three leading professional/executive companies to our portfolio of specialist brands.
HIGHLIGHTS FOR THE FIRST QUARTER
- Operating income in France increased by 31%
- Operating income in the Netherlands more than doubled
- Strong growth in sales and profits in North America and Australia
- Increase in gross margin to 18.4% (Q1 2005: 17.5%)
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