|IFRS - ¤m||H1 2011(1)||H1 2010||Change %|
|Current operating profit||11.0||7.7||+43.4%|
|Current operating margin||3.0%||2.4%||-|
|Net group profit||6.8||5.4||+27.8%|
(1) The Company's statutory auditors have performed a limited audit of the accounts. The figures include those of the company LNTP since 1st March 2010, the companies Fenêtres LAPCO, Vendée Béton and Préfa Pays de Loire since 1st January 2011 and 100% Point Bois since 1st January 2011 (50% in 2010).
VM Matériaux posted good sales performance for the six months ended 30 June 2011, with turnover increasing by 14.7% (7.6% like-for-like) to ¤366.4 million. The three business divisions (Materials trading, Concrete industry and Industrial joinery) contributed to this performance and the good trend reflects the success of VM Matériaux's development strategy in a more favourable market conditions.
Consolidated gross profit rose with turnover to ¤134.9 million, a 16.9% increase over H1 2010. The gross margin improved by 0.6 points to 36.8% of turnover.
The current operating margin came in at 3.0% of turnover in H1 2011, a 43.4% increase over H1 2010 despite higher volumes and fuel prices. The Group continued to improve its operating margin and control costs while maintaining revenue growth.
Net group profit was 27.8% higher at ¤6.8 million (¤5.4 million in H1 2010), for a net margin of 2.0%.
The Group had total equity of ¤138.4 million and a net debt ratio of 95% at 30 June 2011 (97% at 30 June 2010), a traditionally working capital-intensive time of year.
Outlook for 2011
VM Matériaux's semi-annual performances confirm the continuing favourable development of the Group's operations despite the uncertainty of macroeconomic conditions at present.
It should also be noted that, following a capital increase subscribed by Queguiner Group, VM Matériaux reduced its stake in Financière LNBTP from 100% to 50%.
Next press release:
Q3 2011 turnover on 7 November 2011 - after stock exchange closes
All our financial communications are available at our website: www.vm-materiaux.fr
About VM Matériaux
The VM Matériaux Group focuses on three business sectors of the building industry:
Originally based in the Vendée region, VM Matériaux now employs close to 3,000 people and is active in Western France and the French overseas departments as well as in China and Canada. In 2010, the Group generated total turnover of ¤630.6 millions.
VM Matériaux is listed on NYSE-Euronext Paris, Compartment C
Indexes: PAX, Gaia Index
Codes: ISIN FR0000066540, Reuters VMMP.PA Bloomberg VMM.FP, Ticker: VMMA
Philippe Audureau - Chairman of the Board of Directors
Alain Marion - General and Financial Manager
Tel.: +33 2 51 08 08 08 - E-mail: firstname.lastname@example.org
Caroline Lutinier - Head of Group Communication
Tel.: +33 2 51 08 08 08 - E-mail: email@example.com
Tel.: +33 1 53 67 36 57 - E-mail: firstname.lastname@example.org
Tel.: +33 1 53 67 36 93 - E-mail: email@example.com
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