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Naturex first half meets growth targets

22-Jul-2005

Related topics: Industry, Phytochemicals, plant extracts

Strong demand for plant-based nutraceuticals continues to fuel growth at French extracts firm Naturex, which reported a 6.8 per cent rise in sales for the first half of the year, reports Dominique Patton.

The company said turnover during the six months reached €18.7 million, with the nutraceuticals industry accounting for 18.8 per cent of the growth at a constant exchange rate.

Food makers accounted for a 13.3 per cent growth in sales during the period at a constant exchange rate.

Excluding its contract extraction business, overall sales at a constant exchange rate were up 10.1 per cent.

Europe is currently seeing better growth than the US market (19.9 per cent of the growth compared to 13.3 per cent in North America based on a constant exchange rate).

However the new acquisition of US-based Pure World will make this market the major one for the firm.

PureWorld's first half turnover of €12.7 million suggests that the US market will account for 70 per cent of the Naturex's overall turnover.

Asian sales, a small market for the firm but targeted for growth, declined declined during this period.

Chief financial officer Thierry Lambert told NutraIngredients.com that this was merely down to a lost order from one client.

"There is nothing particularly wrong with the Asian market, we expect it to pick up again in the second half," he said.

The firm did not release information on profits.