Duratex has 32.8 percent more profit in 2nd quarter

SÃO PAULO, July 23 (Reuters)-Duratex, largest manufacturer of wooden panels of Brazil, ended the second quarter with net profit of 130.74 million dollars, an increase of 32.8 percent in comparison with the same period last year.
The company reported cash generation as measured by earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted 301.3 million dollars, 27 percent annual advance. The margin in the period rose from 29.3 to 30.9 percent.
Net revenues grew by 20.7 percent to 976.4 million reais, with volume issued 647.15 panels thousand cubic meters, up 3.4 percent, and the number of pieces of sanitary unit Deca having high of 18.3 percent.
The cost of goods sold of Duratex, holding company Itaúsa, amounted to 519 million reais in the quarter, annual high of 14.7 percent.
Duratex ended the quarter with net debt of 1.48 billion, an increase of 18.2 percent over the end of the second quarter of 2012, which was assigned by Duratex the investments in expansion and acquisitions.
The company said that as part of its growth strategy "will continue exploring any opportunities for acquisitions without abandoning the focus on organic expansion of its operations".
On Saturday, sources said, told Reuters that the Duratex and other three companies had made initial offers by the largest manufacturer of bathroom equipment in Europe, the German Grohe, until the Friday deadline. Sought last week, Duratex said he had no knowledge or information on the subject.
Duratex kept expecting to invest 660 million reais this year.