Ten Cate H1 profit up 40 pct as military orders boost Q2

Tag : large orders

AMSTERDAM (Thomson Financial) - Royal Ten Cate NV said on Wednesdayfirst-half net profit before amortisation rose by about 40 percentfollowing a strong second quarter due to large orders from the U.S.military.
In an unscheduled trading update, Ten Cate said net profit beforeamortisation rose 45 percent in the second quarter.
It added second-quarter sales rose by about 28 percent, havingimproved 20 percent in the first half of the year to about 510million euros.
'The market outlook for the second half of 2008 remainsfavourable,' the Dutch advanced textiles, plastics and rubberproducts company said in a statement.
At its first-quarter results, Ten Cate said sales had been hit bythe economic slowdown in the United States but reiterated itsforecast for full-year earnings per share of 10 percent.

Aaron Gray-Block; tfn.amsterdam@thomson.com
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