Earnings Release • Nov 8, 2012
Earnings Release
Open in ViewerOpens in native device viewer
Third quarter 2012 Trading Update Rotterdam, 8 November 2012
Amsterdam Commodities NV (Acomo) reports that 2012 continues to develop as one of the best years so far for the group. All the group companies were profitable. The trading activities in the third quarter remained positive, albeit at a slightly lower level than in the first half year 2012. Taking into account the unpredictability of markets and external developments, it now seems unlikely that the full year results will match last year's record profit.
Following the trends of all 2012, the prices of many food commodities remained high, generating higher sales. Consolidated sales for the 9 months 2012 until September amounted to € 441 million, i.e. 8% higher than the same period last year. On the other hand, the high prices combined with challenging economic conditions are causing increasing pressure on volumes and margins.
"In view of the complex market circumstances in which our companies operate, we are very proud of our management and trading teams" says Managing Director Stephane Holvoet.
The Supervisory Board and Management Board
[End]
For further information, please contact
WTC, Beursplein 37, 10e etageSophialaan 43 Rotterdam 1075 BM Amsterdam info@acomo.nl f.witte@creativevenue.nl Tel. +31 10 4051195 Tel. +31 20 4525225 Fax +31 10 4055094 Fax +31 20 4528650 www.acomo.nl www.creativevenue.nl
De heer S.G.J. Holvoet De heer F. Witte, woordvoerder
Amsterdam Commodities N.V. (Acomo) is an international group with its principal business the trade and distribution of agricultural products. Our main trading subsidiaries are Catz International
B.V. in Rotterdam (spices and food raw materials), Van Rees Group in Rotterdam (tea), Red River Commodities Inc. in Fargo, USA (confectionary sunflower seeds), King Nuts B.V. in Bodegraven (nuts) and TEFCO & Snick EuroIngredients in Bodegraven and Beernem, Belgium (food ingredients). The Acomo shares are traded at Euronext Amsterdam since 1908.
www.acomo.nl
Have a question? We'll get back to you promptly.