Hagemeyer Posts Profit, Organic Growth of 11.5% in ’06

Netherlands-based diversified distributor Hagemeyer NV reported sales of 6.22 billion euros (US$8.17 billion) in 2006. Organic growth was 11.5%. Profit for the year was 140 million euros (US$183.8 million), compared with a net loss of 58 million euros (US$76.1 million) last year.


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A strong global economic environment and high copper cable prices had a positive impact, said CEO Rudi de Becker. This is the first in three years that Hagemeyer has recorded a net gain. Hagemeyer's turnaround has been successfully completed and we are now entering a new phase," he said, "one focused on profitably growth - both on our own and through judicious acquisitions."


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Overall organic growth in the Professional Products and Services division was ...