ERJ staff report (LMH)
Torekov, Sweden -- Nolato Group has reported sales for the first quarter of 2012 of SEK 837 million (Euro 94 million), a 10 percent increase year-on-year. Operating profit (EBITA) was up 30 percent to SEK 57 million and earnings per share rose to SEK 1.41, Nolato said.
"We are pleased to report positive development for all business areas," said Hans Porat, President and CEO of Nolato in a 24 April news release.
The Swedish group is a developer and manufacturer of polymer product systems and components for customers in specific market areas, including medical rubber products.
Nolato Medical's sale rose by 6 percent to SEK 246 million, while operating profit (EBITA) increased to SEK 31 million and the EBITA margin was 12.6 percent.
"Product sales developed well in line with the growth in the market during the quarter, while project-related sales remained lower," commented Porat.
Nolato Industrial's sales rose by 13 percent to SEK 304 million; operating profit (EBITA) increased to SEK 28 million and the EBITA margin was a strong 9.2 percent.
"Capacity utilisation was high during the quarter," Porat said. "Demand was stable, and new products, particularly within the area of hygiene, have experienced a positive development."
Nolato also recently acquired British pharmaceutical packaging company Cope Allman Jaycare, which it says provides geographic expansion and a stronger customer base for Nolato Medical. Nolato said Cope Allman had sales of about SEK 270 million in 2012.
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Press release from Nolato Group