Coloplast announces annual financial results

Worldwide medical supplier Coloplast has announced its financial results for the 2005-06. The company generated revenues of DKK 7,227 million (656.42 million pounds) in continuing business, an increase of 15 per cent over the previous year.

It reported an operating profit of DKK 955 million, with economic profit rising 25 per cent on last year’s figure to DKK 349 million, taking into account the DKK 75 million sale of Sterling.

Sten Scheibve, chief executive officer of the company, said: “Coloplast emerged as a stronger business from the 2005-06 financial year. Our organic growth was in line with the expectations we announced at the end of the third quarter and our EBIT margin was just over 13 per cent.”

He added that taking into account the lowering of operating profit as a result of the acquisition of the urology business of Mentor, these results could be considered as evidence of a strong financial performance.

Coloplast recently launched a new strategy for its global manufacturing activities that seek to assist the company in its attainment of world-class manufacturing over the next three years while reducing total unit cost by five per cent a year.