Toupargel-Agrigel announced audited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported sales of 294.4 million against 327.1 million a year ago. Operating profit was 8.3 million against 8.3 million a year ago.
Net profit (group share) was 5.1 million or 0.50 per share against 4.0 million or 0.39 per share a year ago. Cash flow from operations was 18.7 million or 1.86 per share against 14.1 million or 15.4 per share a year ago. Net debt amounted to 9.4 million as of 31 December 2013 compared with 11.7 million as of 31 December 2012.
Capital expenditure was 6.0 million against 11.3 million a year ago. Net assets per share were 8.7 against 8.2 a year ago. Revenue decreased due to i) an unfavourable calendar effect, with four fewer business days in 2013 (revenue down 5 million vs.
2012), ii) a more targeted approach to new customers, with a deliberate reduction in their number (revenue down 7.4 million vs. 2012), iii) a reduction in sales prices (revenue down 4 million) and erosion among regular customers that subsided at the end of the year.