Excluding the effects of the acquisition of CenE Bankiers and also excluding its contribution to profit in the fourth quarter, Van Lanschot NV expects its earnings per ordinary share for 2004 to be approximately € 4.10 (2003: € 3.66), a 12% increase.
Mr F.G.H. Deckers, Chairman of the Board of Managing Directors of Van Lanschot, made this announcement during the New Year's reception for the bank's employees. This expected profit improvement more than exceeds the forecast announced during the publication of the half-year figures for 2004, namely that earnings per ordinary share, excluding the effects of the acquisition of CenE Bankiers, would increase by at least 10% in 2004.
"Given the very modest economic recovery and ongoing cautious sentiment on the stock exchanges I consider this result to be very satisfactory. We once again succeeded in controlling costs, while income rose slightly partly thanks to the further growth of our client base", says Deckers.
During the New Year's reception, the Chairman also spoke extensively of the acquisition of CenE Bankiers, which has formed part of Van Lanschot since 1 October 2004. Deckers: "CenE achieved very good results in the fourth quarter. Furthermore, the integration of both organisations is moving full steam ahead in all respects and no effort is being spared to ensure that the combination is even more successful than its individual parts."
's-Hertogenbosch, 14 January 2005
