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[Sep 2005]
Definitive First Half Results from Imerys
On 12 September 2005, Imerys published its definitive results for the first half of 2005, confirming the provisional results published on 27 July 2005.
After a first quarter with positive overall trends, in the second quarter Imerys faced more difficult conditions in two of its activities, Pigments for Paper and Specialty Minerals. Furthermore, the macroeconomic environment for the first half was marked by sharp inflation in some external costs (energy, transport, chemicals, etc) and by a significant negative trend in average exchange rates. In that context, added Imerys, it once again showed its growth potential with a 3.1% rise in consolidated sales and profit from current operations and an 11.6% rise in net income from current operations.
Another highlight of the period was further growth in operating cash flow (up 4.9%). In parallel, capital expenditures rose significantly, reflecting the many strategic capacity extension projects implemented in all business groups. External growth has been sustained since the beginning of the year with the acquisitions of Lafarge Refractaires and World Minerals.
As announced on 27 July and despite a more volatile environment, Imerys expects to record a growth rate of approximately 10% in its net income from recurring operations for the full year.
The group achieved sales of 2.9 billion in 2004.
ENDS