2012 Second-quarter Revenue and 2012 Interim Results

• Strong growth with revenue up 19.3% in the second quarter and 17.3% in the first half of 2012
• Recurring operating income up 28.9% at €144.9 million
• Attributable net income up 28.8% at €63.5 million...

2012 Second-quarter Revenue
2012 Interim Results

Download the slideshow:2012 Interim Results.

• Strong growth with revenue up 19.3% in the second quarter and 17.3% in the first half of 2012
• Recurring operating income up 28.9% at €144.9 million
• Attributable net income up 28.8% at €63.5 million

In a statement, Richard Bielle, Chairman of CFAO’s Management Board said:

« CFAO turned in a very solid performance during the first half of 2012, once again confirming the strength of our business model of a platform dedicated to the distribution of brands in Africa and the French overseas territories.

Most of the markets on which the Group operates in Sub-Saharan Africa remained buoyant during the period, as did business in Algeria and Morocco.

Sales in the Group's three divisions enjoyed strong growth and operating profit margin increased significantly to reach 8.3%. In line with our objectives, the new businesses CFAO Equipment and Rental services are rapidly progressing.

Concerning Eurapharma, two acquisitions have been closed after June, 30: acquisition of a 75% interest in the Danish company Missionpharma, the leader in the distribution of kits dedicated to hospitals, clinics and NGOs, markets not addressed by Eurapharma so far, and the acquisition of Assene, a distributor based in Nigeria, a new and promising market for Eurapharma.

We can therefore look forward to the second half of 2012 with confidence. »

Please find attached the entire press release hereafter.