Nedschroef Fasteners Boost Profit
August 26
00:00
2004
Jason Sandefur
Dutch fastener maker Nedschroef posted a net profit of Euro 3.5 million (U.S.$4.23 million) for the first half of 2004, a 75% improvement. First half sales rose 12.6% to Euro 173.1 million, while operating profit increased 50% to Euro 7.5 mllion. Nedschroef expects a 30% year-on-year operating profit increase in 2004 to about Euro 15.2 million.
The profit increase was entirely attributed to the company’s fastener division, which reported a turnover jump of 18.4%. The increase resulted from “the favourable development of the European automotive industry and the new orders,” the company reported. Web: nedschroef.be �2004 FastenerNews.com
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