French plant extracts firm Naturex reported turnover of €14.1 million for the first quarter of 2003, growing 4.4 per cent when measured at constant exchange rates.
Growth over the period was slightly weaker than the same quarter last year, which was followed by a particularly strong performance in the second quarter of 2002. Taking into account the strong decline of the dollar, however, turnover was down 7.9 per cent over the period.
Flavours activities made up the largest proportion of sales in the quarter, 53.9 per cent, with 40 per cent coming from nutraceuticals and 5.6 per cent from the extraction business. The US and Canadian markets produced almost 47 per cent of sales in the quarter with France and the EU making up 12.2 per cent and 32.2 per cent respectively.
Earlier this year, Naturex said it was aiming to reach a 10 per cent rise in turnover during 2003 with expected net income for the year between €1.8 and €2.2 million.