Record results at CEA

9 February 2005 – Sydney (AUS): Annual sales at Corporate Express Australia (CEA) have reached the A$1 billion benchmark and profit has topped record levels, the company has reported.

Net profit for 2004 reached A$58.2 million ($44.6 million), up 27.3 per cent from A$45.7 in 2003.

Sales increased 14.7 per cent to A$1.014 billion from A$884.4 million the previous year.

CEA’s managing director Grant Harrod said: "We are very encouraged by our strong profit performance. This has been achieved by increasing market share across all businesses, broadening our product range, and the growing take-up of the company’s single source model by our customers."

Looking forward, he added: "CEA remains committed to growth and actively pursues opportunities both organically and through acquisitions to make a positive contribution to earnings. Expansion of our specialty divisions remains a priority and there is opportunity for further consolidation in these lines of business."

CEA will in future report on a quarterly basis in line with its majority shareholder Buhrmann.