3 May 2006 – Amsterdam (NL): Buhrmann has reported Q1 net sales of €1.5 billion ($1.8 billion), up from last year’s figure of €1.3 billion.
Net profit was €24.5 million, or EPS of €0.14, compared to a loss of €77.7 million, or €0.53 per share, for the same period in 2005 due to a buy-back of all outstanding Preference Shares C in last year’s quarter. Excluding special items and fair value changes, net profit increased 64.4 per cent to €33.2 million from €20.2 million the year before.
Divisional performance showed an increase in net sales in North America to €840.7 million from €709.3 million, an increase in Europe to €256.3 million from €238.9 million and an increase in Australia to €174.4 million from €146.9 million in 2005’s Q1.
President and CEO Frans Koffrie said the performance was fully in line with the company’s expectations. "The rate of profit is about double the rate of sales growth. Significant steps were taken during the quarter that we believe will help drive strong earnings momentum in the latter part of 2006 and beyond."
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