Bossard Posts Record Sales
Bossard Posts Record Sales
Jason Sandefur
Bossard Holding AG reported sales during the first four months of 2007 rose 5.6% to a record CHF 204.1 million (US$166.9 million), while net profit increased 25% to CHF 10.6 million (US$8.7 m). Overall results were hampered by rising stainless steel prices that could not be immediately passed on to customers.
The strong sales announcement was tempered by weaker U.S. results amid Bossard’s CHF 5 million (US$4.1m) restructuring in North America.
“In America the slowdown of industrial development which had become apparent in 2006 continued,” the company stated. “There was a noticeable collapse in demand in the sectors of capital goods and consumer durables which we mainly serve.” The company said it was not surprised that U.S. sales dropped 15.5% to CHF 60.7 million during the period.
Sales in Europe jumped 21.1% to CHF 117.6 million amid double digit gains in all regions.
Revenue from Asia increased 5.7% to CHF 25.8 million, boosted by gains of 53% in China and 30% in Thailand. Web: bossard.com �2007 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment