Netherlands : Corporate sales in safety fabrics & composites soar at TenCate

February 27, 2008

TenCate enjoyed an excellent fourth quarter. Sales increased in the fourth quarter from € 171 million to € 226 million. In autonomous terms sales increased by 26%.

This substantial increase in sales is mainly the result of sizeable deliveries of military orders for fire-resistant fabrics (TenCate Defender M) in the US and the shipment of orders announced earlier, relating to the armouring of military vehicles.

TenCate Thiolon Middle East, which was acquired in 2007, also made major contributions to sales.

The operating result increased from € 9.7 million to € 21.1 million in the fourth quarter.

Net profit in the fourth quarter excluding the result on divested activities amounted to € 15.6 million (2006: € 7.1 million).

In the fourth quarter a transaction was effected relating to the sale of property in Nijverdal (the Netherlands) as a part of the centralization of the manufacture of protective fabrics. On balance this produced a result after tax of € 3.1 million (pre-tax € 4.1 million).

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