Buhrmann posts improved results for Q3

10 November 2004 – Amsterdam (NL): Buhrmann has posted an improvement in figures for its Q3, thanks to strong private brand sales, increased productivity and improving sales in North America, the company said.

Net profit for the quarter was at €29.4 million ($38 million), up from €6.2 million in the Q3 of 2003.

Net sales (excluding paper merchanting) declined slightly to €1.348 billion from €1.404 billion in last year’s Q3.

Buhrmann president/CEO Frans Koffrie said: "We are pleased with the results we have delivered in the Q3 of 2004. Our sustained and strong competitive position as a single-source supplier with a clear focus on business-to-business distribution has allowed us to expand our business, especially in the large accounts market segment."

Of the company’s future he added: "We are confident that the implementation of our strategic initiatives will allow us to continue growing sales and earnings. We expect continued available positive cash flow in the Q4 of 2004 and we accordingly reiterate our forecast that full year available cash flow will be positive."