Bossard Sees Record Sales & Profit
Bossard Sees Record Sales & Profit
Jason Sandefur
The Bossard Group reported “exceptional” sales and profit in 2007. Revenue grew 7.4% to CHF 600.82 million (US$592.15 million), while operating income soared 81% to CHF 41.2 million (US$40.6m) and net income jumped 150% to CHF 30.5 million (US$30.05m). Bossard said results were “fully attributable to organic growth.”
North American sales dropped 3% in 2007. Bossard recently completed restructuring its U.S. operations, cutting costs 29% and reducing locations by two-thirds.
Sales in Europe climbed 16% to a record CHF 346.7 million (US$341.6m), which included gains of more than 30% in both Southern and Eastern Europe.
In Asia sales rose by 7% to CHF 85.7 million (US$84.4m). The highest growth of 35% was reported by Bossard China, the company’s largest business unit in Asia. Growth in Singapore and Thailand was also above average, while sales in Korea, Taiwan and India remained weaker.
Capital investment dropped 16.5% to CHF 10.7 million (US$10.54m). Bossard also cut its workforce by 2.5% to 1,773 employees.
For 2008 the Switzerland company expects sales and profit growth to slow to 5% based on “a less positive assessment of the world economy.” Web: bossard.com �2008 FastenerNews.com
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