Profits rise 11% At Gist-Brocades In 1994

Net profits before extraordinary income and expenses grew 11% to 141.2 million guilders ($89.5 million) in 1994 at Dutch company Gist-Brocades. The increase was in line with expectations. In 1993, profit had risen 23%. Operating profits grew 6% to 175 million guilders, representing 9.9% of turnover. The profit margin on industrial pharmaceutical products was up on 1993.

Net turnover rose 3.9% to 1.8 billion guilders. Growth was said to have been principally driven by the constant demand for industrial pharmaceutical products, which the company said had provided the most important contribution to the increase. Turnover was adversely affected by fluctuations in exchange rates to the tune of 15 million guilders.

Gist-Brocades has started construction of a production plant for 40-60 tonnes of clavulanic acid in Strangnas in Sweden.