Navigation Links
KORRES Q1 2008 Results
Date:5/13/2008


ATHENS, May 13 /PRNewswire-FirstCall/ --

- Significant Increase by 31,6% in Sales and 10,3 % in Net

Profitability for KORRES Natural Products Group

- Increase by 31,6% of the Consolidated Sales to EUR 11,3m in the First

Quarter of 2008 (from EUR 8,6m in the Corresponding Quarter of 2007)

- Increased by 12,7% of the Consolidated EBITDA to EUR 2,6m (from EUR

2,3m in the Respective Period of 2007)

- Net Profits (EAT) Increased by 10,3% to EUR 1,5m (from EUR 1,4m in

the First Quarter of 2007)

In the first quarter of 2008, KORRES Natural Products Group sales, increased by 31,6% to EUR 11,3m from EUR 8,6m in the corresponding quarter of 2007, driven by increased sales in most product categories. In particular, significant rise of 70,9% has been presented by the face category driven by an important increase in sales in the international markets ,and as well as the body category (+18,8%) with the development of body care products and of Kings & Queens that have been launched in the market in the second half of 2007. Further more, double digit growth of 11,1% has been presented also by the hair products.

The Group, continuing its dynamic expansion in the international markets, increased its participation of the international sales in the total turnover to 26,6% from 11,5% in the corresponding quarter of 2007.

Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 2,6m from EUR 2,3m in the first quarter of 2007, enhanced by 12, 7%, and the net profit after taxes amounted EUR 1,5m from EUR 1,4m, presenting an increase of 10, 3%, a result of the increased operating profitability and the reduced efficient tax rate by 2 percentage points.

The Group continued also in the first quarter of 2008 to reinforce its presence in the international markets and to enhance its brand awareness with the opening of 3 new KORRES stores in Paris, in Neuchatel and La Chaux de Fonds in Swiss, reaching 17 stores in total abroad while if we incorporate the 2 in Greece, the network is coming up to 19 stores. Group's target for 2008 is to double the number of KORRES stores with the opening of 20 new through the local distributors while at the same time the group will continue to promote KORRES Natural Products through the selective distribution network and Kings & Queens through the semi selective distribution.

In line with the strategic partnerships that the Group maintains and in context with its major growth targets of creating new innovative products by systematically exploiting the Greek Flora, proceeded in the first quarter of 2008, to further enhancement of its corporation with Chios Mastiha Growers Association , by acquiring 5,13% of MEDITERRA, which is the exclusive distributor of Chios Mastiha.

Finally, Group's strategy for 2008 will continue to be the development and promotion of the existing brand KORRES Natural Products as well as the new brand 'Kings & Queens' both in Greece and abroad, focusing its interest mainly on the markets of UK, France, Germany, Spain, US and also China and Russia.

KORRES Natural Products is a rapidly developing Greek company with the aim to utilize its extensive scientific resources for the creation of beneficial and safe products.

The company today offers a complete skin and hair care range, make-up, sun care products and herbal preparations.

Utilizing the experience with 3000 homeopathic remedies, the company today offers more than 500 skin and hair care products and herbal preparations.

The company has already presence in 28 countries at 1,250 POS globally with a goal to become an international brand.

For more information please contact the Head of Group Investor Relations, Ms Athina Lagou, on +30-226-205-4651, or email athina.lagou@korres.com


'/>"/>
SOURCE KORRES Natural Products Group
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Haemacure Reports Third Quarter 2007 Results
2. Brooke Franchise Corporation Announces Selected July Results
3. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
4. Somanetics Corporation to Release Third Quarter 2007 Financial Results and Host Conference Call September 19
5. The New England Journal of Medicine Publishes EURIDIS/ADONIS Study Results Showing Dronedarone Maintained Sinus Rhythm in Patients With Atrial Fibrillation or Flutter With no Observed Pro-Arrhythmia
6. NBTY Announces Preliminary Unaudited Net Sales Results For August 2007
7. Martek Announces Third Quarter 2007 Financial Results
8. MDS Reports Third Quarter 2007 Results
9. Authentidate Holding Corp. to Report Fourth Quarter and Fiscal 2007 Year End Results on Thursday, September 13, 2007
10. Robbins & Myers to Release Fourth Quarter and 2007 Fiscal Year Results on Monday, October 15, 2007
11. NMHC Reports Fourth Quarter and Fiscal Year 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/19/2017)... ... 19, 2017 , ... Braun Industries will be participating as an exhibitor at ... take place February 23-25, 2017 at the Calvin L. Rampton Salt Palace Convention Center ... new ambulances on display. , “JEMS is a leader in EMS ...
(Date:2/19/2017)... (PRWEB) , ... February 19, 2017 , ... ... solutions for connected home healthcare, will join forces with Healthwise ® at ... education. Healthwise, the industry leader in evidence-based health education, technology and services, ...
(Date:2/18/2017)... ... February 17, 2017 , ... Butler Mobility invited Ken Matthews to visit its ... products. Ken was impressed with the safety and reliability of the Stannah Stairlift ... his show. This endorsement by Ken Matthews can be heard on News Radio ...
(Date:2/18/2017)... ... February 18, 2017 , ... ... Use Pixel Film Studios ’ ProParagraph Fashion Volume 2 for all multi-line ... other applications. Users can pick and choose from hand-crafted trend-setting designs with ...
(Date:2/17/2017)... (PRWEB) , ... February 17, 2017 , ... ... has not kept pace. Enovate Medical has introduced an innovative workstation designed to ... of supporting nurses, the Encore Mobile EHR Workstation offers a lightweight, highly mobile, ...
Breaking Medicine News(10 mins):
(Date:2/20/2017)... 2017   Orion Health ™ announced ... medicine platform to the Amazon Web Services, Inc. ... million patient records globally. "We are impressed ... solutions built on modern, scalable technology," said Steve ... "The AWS Cloud gives healthcare companies a powerful tool ...
(Date:2/20/2017)... -- Today from HIMSS17, Ambra Health , makers of ... launch of  Ambra for Developers , a ... RESTful web-services, this is the first cloud development platform ... new APIs, IT departments at health systems and hospitals ... applications such as population health or reporting tools. In ...
(Date:2/20/2017)... Research and Markets has announced the addition of the ... report to their offering. ... An increasing number of patients suffering ... tension free repair procedures and increasing demand for minimally invasive ... market. However, Inconsistent reimbursement and the high cost of hernia ...
Breaking Medicine Technology: