Italian dairy firm Parmalat boosted gross earnings 18.4 percent in the first two months of 2006 helped by new lines and higher-margin product sales, and said this year's results should be better than 2005.
Parmalat - radically restructured after sliding into insolvency under 14 billion euros of debts in 2003 - said earnings before interest, tax, depreciation and amortisation rose to 45 million euros ($54 million) in January and February.
An ordinary dividend is unlikely on 2006 results, executives said, while any extraordinary payout would depend on the outcome of various legal claims still outstanding.
Parmalat, which relisted last October, has filed lawsuits against scores of Italian and foreign banks, hoping to recover cash from deals they struck with the group before it collapsed.
A key decision on whether its revocatory claims, estimated at 7.4 billion euros, can go ahead is now expected in May, company lawyer Nicola Palmieri said, after a first hearing by the Constitutional Court which should be on April 4.
Separate damages suits filed by the group are estimated at 13.1 billion euros and many are currently being contested.
In its statement on Monday Parmalat said revenues and profits were likely to continue increasing in 2006 with a net financial position in line with that at the end of 2005.
It added core revenues rose 9 percent in the first two months of 2006 to 613 million euros over a year ago.
The company turned in a 14.5 percent rise in core profit in 2005 helped by sales in Canada and sustained growth in its main Italian market. Net profit for 2005 was 45.3 million euros, compared with a net loss of 173.2 million euros a year earlier.
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