BERLIN (dpa-AFX) - Celesio AG (CAKFF.PK), a provider of logistics and services to the pharmaceutical and healthcare sectors, Thursday reported its first quarter results.
Beginning on April 1, Celesio changed the fiscal reporting period to a March 31 fiscal year. For comparison purposes, fiscal year 2016 results will be compared to the results, for the fiscal year 2014.
First-quarter profit increased to 71.8 million euros from 46.7 million euros in the previous fiscal.
Adjusted earnings before interest and taxes increased 24.8 per cent, driven by lower discounts in Germany and an improved earnings level in several countries.
Group revenue rose to 5.34 billion euros from 4.99 billion euros last year. Revenues were up 7 per cent as reported and up 3 per cent on a constant currency basis.
According to the company, the results of the quarter were ahead of expectations driven primarily by good performance in Germany and the United Kingdom.
The outlook for fiscal year 2016 remains unchanged from prior expectation. The management still expects adjusted EBIT for fiscal 2016 to be in line with the adjusted EBIT for the adjusted fiscal 2014 excluding the benefit in fiscal 2014 from the pension in Norway.
Copyright RTT News/dpa-AFX