Private label diaper market has reported its first quarter results during which the Belgium-based company has continued to demonstrate a strong performanceand continued growth. Sales increased 17.4% to €400.2 million ($619 million) during the quarter while earnings reached €49.4 million ($67 million).
Charles Bouaziz, CEO says, “Ontex has continued its momentum over the last three months and the results reflect a strong performance across all its markets. Facing into continued FX headwinds we have achieved strong underlying growth in MEA and Eastern Europe as the business continues to benefit from expansion into new markets, favorable demographics and the increased adoption of our product offering by a growing middle class. Our quarter one results also demonstrate that Ontex is well placed for the continued development of retailer brands in our categories, supported by the withdrawal of Kimberley-Clark from many of our Western European markets during 2013. We thank our employees for their continued dedication to helping drive sustainable and profitable growth in the long term.”