Business briefs: Laurus worth even less
Troubled supermarket group Laurus is currently worth less as a whole than its separate retail divisions, the Financieele Dagblad reports on its website.
Laurus shares reached an all-time low of €1.73 on the Amsterdam stock exchange today, valuing the company at €198 mln. But this is €22 mln less than the company is getting for the sale of its Edah and Konmar supermarket chains, the newspaper points out.
The cooperative Rabobank booked a 13% increase in net profit in the first six months of this year. All parts of the company contributed to growth and earnings rose to €1.2 bn. The bank is Holland’s biggest mortgage provider.
Amsterdam cable manufacturer Draka has benefited from improvements in the economy and increased demand from China to see first half net profit reach a five-year high. Earnings, excluding one-off costs such as a write-off on an unwanted Finnish unit, reached €17.1 mln, compared with €1 mln in the first six months of 2005.
Gear system maker Antonov saw its shares rise in early trading after announcing it had signed a new €4 mln credit deal with its major shareholder Quivest.
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