Laurus half-year 2002 results

The first six months of 2002 the operating result in the Netherlands in particular, was much better compared to the operating result in the second half year of 2001.

Especially the Super De Boer and Edah activities contributed to this. Notwithstanding these improvements the first half year of 2002 resulted in a loss, which was also caused by non recurring items. The loss is mainly due to the results of the Konmar banner, still to high overheadcosts in the Netherlands and the ongoing losses in Spain and Belgium.

Highlights of the half-year results
· Sales EUR 2,865 million;
· Operating result (EBIT): minus EUR 29 million;
· Net result: minus EUR 44 million;
· Consolidated shareholdersÂ'Â' equity positive following share issue of EUR 400 million;
· Credit facilities restructured following share issue;
· Edah and Super De Boer satisfactory;
· Lower sales and negative results in Spain and Belgium.

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(source: Laurus)

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