Benckiser Trading Update 1999; On Track to Meet Expectations of Another Good Year.AMSTERDAM, The Netherlands--(BUSINESS WIRE)--April 27,1999-- Benckiser N.V. (NYSE/ASE code BNV), a world leader in household cleaning products, based in Amsterdam, today updated investors on progress in 1999 to date, reaffirming confidence in a good result for the year. Speaking at an analyst conference today, Bart Becht, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said: "Trading in 1999 to date is in line with our earlier expectations. We indicated at the time of our 1998 full year results that we expected a quiet first quarter, followed by an accelerating trend in top line growth. Initial indications show that net revenues in the first quarter were around 2% ahead of last year at level exchange, with an expansion in gross and operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: delivering stronger growth in profitability. As expected, unfavorable comparisons in the USA, Russia and Turkey, where trading was particularly buoyant Buoyant The term used to describe a commodities market where the prices generally rise with ease when there are considerable signals of strength. Notes: These types of markets can be very volatile as the prices are rapid to rise and fall with investor sentiment. in early 1998, have held back the overall result. In addition the timing of new product introductions had an impact. "Our optimism about an acceleration in growth through the rest of the year remains in place. From here on, comparisons with 1998 become more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. , in particular in Russia/CIS, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Turkey. Our launch today of a major product initiative, Calgonit PowerBall(TM) Automatic Dishwashing Tabs underpins our confidence in progressively stronger growth prospects this year. Finally we are adding new markets to our geographical coverage, most recently Mexico and the Gulf States in the Middle East. "In conclusion, we can see good reason to reaffirm re·af·firm tr.v. re·af·firmed, re·af·firm·ing, re·af·firms To affirm or assert again. re our earlier expectation of a good result for 1999, based on a gradual acceleration in trends. Our business is in increasingly good shape to take advantage of the many opportunities open to us." This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Actual results may differ materially from those projected or implied in such forward-looking statements. Such forward-looking information involves risks and uncertainties that could significantly affect expected results. These risks and uncertainties are discussed in the Company's SEC filings including, but not limited to, the Company's Form 6-K containing quarterly earnings press releases, and certain sections of the Company's Annual Report on Form 20-F. |
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