PSB Industries Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Year 2013
For the nine months, the company reported revenues of EUR 198.3 million compared to EUR 186.4 million a year ago. This steady growth reflects strong expansion in beauty packaging, the temporary first-half decline in custom packaging, and the schedule changes of deliveries in specialty chemicals. Operating profit (EBIT) was EUR 16.6 million compared to EUR 13.5 million a year ago. The improvement at end of September included strong performance in beauty packaging the positive impact of cost cutting and the gradual improvement in custom packaging. Group's free cash flow improved substantially to EUR 29.6 million.
For the year 2013, the Group confirmed the full year 2013 outlook of approximately 5% sales growth with an operating profit (EBIT) of roughly 8% of revenues.