11/23/2015 12:32:00 PM
NEWS BRIEFS
Acquisitions & Currency Exchange Boost BUFAB Sales

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BUFAB Group reported third quarter sales rose 8% to SEK 577 million (US$66.1 million), boosted by favorable currency exchange and acquisitions, Fastener + Fixing Magazine reports. Q3 operating profit totaled SEK 52 million and adjusted operating margin was 9%.

CEO Jörgen Rosengren said the favorable Q3 margin trend was attributable to previously announced measures to implement price increases, achieve purchasing advances and effect cost savings, according to Fastener + Fixing.

Flos BV, which BUFAB acquired at the beginning of the year, was reported to have developed well and contributed good sales and profitability in Q3. International sales grew at a lower rate than earlier in the year, with gains coming from acquisitions and increased market shares. Swedish net sales declined but this remained due to a major customer that switched to own production in Q4 2014.

Net sales during the first nine months of 2015 increased 11% to SEK 1.85 billion, with an underlying sales growth of 3%, according to Fastener + Fixing. Operating profit gained 13% to SEK 159 million, while adjusted operating margin declined to 8.6% from 9.5% in 2014.