Consolidated sales and net profits of the S&B Industrial Minerals S.A. Group of Companies showed increase of 7.5% and 12.8% respectively in the nine-month period (January-September) of 2006. More specifically, the consolidated sales of the S&B Group reached Euro 345.38 million compared to Euro 321.36 million, while profits net of taxes rose to Euro 19.46 million from Euro 17.25 million in the corresponding period of 2005. Also, operating profits increased by 9.4% amounting to Euro 32.98 million versus Euro 30.15 million.
In the Industrial Minerals Activities (representing close to 80% of Group revenue) consolidated sales increased by 4.3%, reaching Euro 265.3 million from Euro 254.4 million in the corresponding period of last year, while operating profits went up by 9.1% to Euro 28.05 million versus Euro 25.71 million. The improved profitability from these Activities, despite the increased global competition and the higher energy costs than in 2005, is attributed to organic top line growth, the pricing policy followed and better product mix.
In the Commercial Activities (Motodynamics S.A. and Ergotrak S.A.), for the January-September period of 2006, a sales increase of 19.5% was recorded, to Euro 80.23 million from Euro 67.13 million in the corresponding period of the previous year. Operating profits from these Activities amounted to Euro 4.54 million, up by 3.8% from the Euro 4.38 million in the nine-months of 2005.
S&B''s Chief Executive Officer Efthimios O. Vidalis, referring to the January-September 2006 financial results, noted: "The nine-month S&B results, paced by the Industrial Minerals Activities, confirm our expectations for steady organic growth and profits for the year 2006 above those of 2005, excluding non recurring items".
The relevant financial statements will be published in the Press and will be uploaded in the Company''s website www.sandb.com on Thursday, November 16, 2006.