The Italian Orsero Group has completed the refinancing of its midterm debt. This was announced by the company in a press release. Over the first six months of the financial year, the company saw a rise in revenue. This increase is apparent from the half-year figures that were published earlier.
A loan of EUR60 million has been distributed to various European institutions for the 2018-2024 period. Senior Unsecured Notes to the value of EUR30 million were also undertaken. These expire in October 2028. Of the EUR90 million raised, EUR79 million will be used to repay two midterm debts.
Over the first half of 2018, this company's sales came to EUR469,7 million. This is an increase compared to the EUR355,0 million of the same period in the previous year. The company also ended the half-year off well, under the line. The first six months of the year ended with EUR5,5 million net profit. A year earlier, this was only EUR870.000.
“The first six months of 2018 continues to confirm BU Distribution of fresh fruit and vegetables' excellent performance", says Orsero's CEO, Raffaella Orsero. “The rise in margins is a result of the takeovers in Italy and Spain. These were completed in 2017. There was also a process put in place to improve efficiency."