The EAC Group maintains the outlook
- Full-year operating profit (EBIT) of around DKK 700m
- Interim dividend of DKK 20 per share on 30 September 2010 combined with share
buy-back programme.
Continued strong underlying growth in EAC Foods in challenging market
- Reported revenue of DKK 1,452m (IAS 29).
Continued growth in high-margin services in EAC Moving & Relocation Services
- Revenue of DKK 283m, a decrease of 3 per cent in local currencies.
Niels Henrik Jensen, President & CEO of EAC:
“Our numbers are significanctly affected by the devaluation in Venezuela, and
local business conditions continue to be challenging with high inflation and
limited room for price increases. However, consumer demand for EAC Foods'
products continues to be strong.”
“In Asia, increasing foreign investments reinforce our expectation that the
mobility industry will recuperate in H2.”
“We have initiated a process to update the strategy for our remaining
businesses after the sale of EAC Industrial Ingredients. We will present this
strategy update including associated capital requirement and financial targets
in connection with the Annual General Meeting in March 2011.”
Yours sincerely,
The East Asiatic Company Ltd. A/S
For additional information, please contact:
President & CEO Niels Henrik Jensen
+45 3525 4300
nhj@eac.dk
Group CFO Michael Østerlund Madsen
+45 3525 4300
mom@eac.dk
www.eac.dk
