Azkar FY net rises to 18.5 mln eur from 16.2; treasury stock 3.48 pct

Transportes Azkar SA said net profit rose 14 pct to 18.5 mln eur in the full-year to Dec 31 from 16.2 mln a year earlier on a 10 pct increase in revenue to 280 mln eur from 253 mln.

In a statement, Azkar said EPS rose to 0.38 eur in 2003 from 0.33 in 2002, while EBITDA declined slightly to 39.6 mln eur from 39.9 mln.

Profit from ordinary activities rose slightly to 19.6 mln eur from 19.0 mln, while EBIT slipped to 20.1 mln eur from 22.7 mln and pretax profit climbed 14 pct to 22.1 mln eur, ahead of the management’s target for a 10 pct increase.

Investments in 2003 reached 31.5 mln eur, mainly in new installations and transportation assets.

As of Dec 31, the company said it held 1.692 mln of its own shares, or 3.48 pct, as treasury stock.