Asia Growth Increases Bossard Sales & Profit
Asia Growth Increases Bossard Sales & Profit
Jason Sandefur
Swiss fastener company Bossard Holding AG announced net profit for the first four months of 2006 increased 5% to CHF 8.5 million (US$6.9 million) on a 10.7% revenue jump to CHF 193.3 million (US$158.78 million), driven by strong growth in Asia and Europe. Asia sales rose 57% to CHF 24.5 million (US$20.15 million), including a 75% sales increase in China.
Sales in the U.S. were CHF 71.8 million (US$59.1 million), hampered by lower demand and the termination of a business relationship after Bossard faced “unjustifiably” high compensation claims from a customer. The matter will be settled in court, Bossard said, adding it had adequate insurance coverage against any court ruling.
Bossard predicted full-year growth of 6% to 8%. Web: bossard.com �2006 FastenerNews.com
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