French ingredients manufacturer Naturex this week reported a2002 turnover of €29.6 million, a growth of more than 80 per cent, according to the company, which said the rise in sales was in line with expectations.
The results take into account the activities of Brucia Plant Extracts, bought during 2001. Naturex also saw strong organic growth of 31 per cent.
Operating results at the ingredients firm increased twofold to €3.67 million while net profits rose four times last year's figure to €1.74 million.
Naturex said that integration of the Brucia business had been successful both in financial and commercial terms. The deal has allowed the company to speed up its development strategy, strengthening its product offering for the nutraceutcial market (42 per cent of turnover) and expanding its presence on the American market, which now represents 53 per cent of sales.
For the coming year, growth potential is expected to be significant. Naturex is aiming to reach a 10 per cent rise in turnover during 2003 with expected net income for the year between €1.8 and €2.2 million. For the first quarter, turnover is already up by nearly 10 per cent at constant exchange rates to €8 million.
Last March, the company received the 'Audace créatrice' prize from the French government, awarded to young businesses with strong growth.