3/25/2014 3:36:00 PM
NEWS BRIEFS
LISI Group Reports Record Fastener Revenue
LISI Group reported 2013 revenues rose 6.3% to EUR 1.15 billion, Fastener+Fixing Magazine reports. Organic sales growth at current exchange rates was 7.3%. EBIT was up 28.4% to EUR 128.9 million.
LISI’s aerospace fastener division recorded sales growth of 12.2%, setting record levels of fastener and structural component sales, according to Fastener+Fixing. The growth rate however slowed in the second half of the year 2013. Sales were +16.9% in first half 2013, but +10.2% in Quarter 3 and 5.2% in Quarter 4.
LISI Automotive was said to have shown good resilience in a difficult year. Full year sales were down 1.0% but Quarter 4 saw growth at 4.4%. LISI Medical gradually recovered with sales down 1.1% for the year compared with 12.1% down in 2012.
The Group exceeded its target for a 10% operating margin, reaching 11.2% in 2013. ©2014 GlobalFastenerNews.com & Fastener + Fixing Magazine
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