Van Leeuwen ends 2001 in profit

Van Leeuwen Pipe and Tube Group realised a modest profit of € 0.2 million for 2001 (compared with a loss of € 22.7 million over 2000). Sales rose by 7% to € 460 million (compared with € 431 million in 2000, excluding the United States). The Group’s operating result has also substantially improved thanks to a sharp increase in margins and cost savings, and following the disposal of its loss-making activities in the United States at the beginning of 2001. The operating result for 2001 was € 5.4 million (compared to a loss of € 2.6 million in 2000). The Group’s financial position remains strong with a solvency of 33.1% (2000: 32.8%).

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