Earnings Release • Dec 3, 2013
Earnings Release
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Rotterdam, 7 November 2013
Amsterdam Commodities N.V. ('Acomo') reports that the year 2013 continues to develop well. Consolidated sales over the first nine months amounted to € 442 million being at the same level as sales in the first nine months of 2012. The gross profit margin during the third quarter continued at the same level as the first six months of this year.
The realized operational profit in the third quarter was slightly higher than in the third quarter of 2012 and the total net profit in the third quarter increased slightly compared to last year. Net profit was negatively affected by over € 1 million due to specific items including cost relating to the 16% crisis tax levy that was re-introduced in September. Taking into account the unpredictable market and external developments the Management Board anticipates that the Group will realize a 2013 net profit level similar to 2012.
"Once again Acomo's teams have proven that they can realize strong results in difficult political and economic circumstances which makes us confident about the future" says Managing Director Erik Rietkerk.
During the third quarter of 2013, a total of 225,250 new Acomo shares were issued due to employees exercising their options as part of the Acomo Share Option Plan.
The Acomo Supervisory Board and Acomo Management Board
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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.
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