The French wines and spirits group, Marie Brizard, is forecasting a net profit for 2003, after five years of net losses.
The Bordeaux-based group’s chairman, Eric Brousse, said the company was expecting earnings before interest, tax, depreciation and amortisation (EBITDA) of €20m (US$23.4m) for 2003, on turnover of €380m (US$445m).
Turnover in the first quarter of 2003 rose to €79.8m (US$93.5m) excluding taxes from €40.5m (US$47.4m) in the first quarter of 2002.
The company registered a net loss of €700,000 (US$820,000) for 2002, against a net loss of €4.8m (US$5.6m) in 2001.
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