TenCate reports increase in profit
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TenCate records substantial increase in profit in first quarter of 2011
3 May 2011
TenCate sales increased by 46% to €279 million compared with the first quarter of 2010. Pre-tax profits rose significantly from €3.0 million to €14.1 million during the first quarter. The increase in sales and profit shown is partly the result of considerably higher demand for TenCate Defender™ M products compared with the first quarter of 2010. There has also been an improvement in the capacity usage in production at several TenCate companies and a good upturn in profit in the Netherlands, with Xennia’s order position increasing sharply.