Vivartia: reports net profits up 21,4 percent in 2008

Athens / GR. (vv) Greek leading food group Vivartia S.A. reported a 28,5 percent increase in its 2008 sales to 1’437 million EUR, up from 1’119 million EUR in 2007, reflecting strong organic growth and integration of acquisitions made during the year (Nonni, Everest Group and Olympic Catering). Pre-tax, interest and amortisation earnings (EBITDA) totaled 153,5 million EUR, up 21,2 percent, while pre-tax profits fell 28,1 percent to 37,5 million EUR, reflecting higher financial expenses. Net after tax and minorities earnings rose 21,4 percent to 12,6 million EUR in 2008. Vivartia´s chief executive Spyros Theodoropoulos said it strengthened its market shares in several product categories, such as dairy products, yoghurt, bakery products and fast food.