7/13/2012 3:46:00 AM
NEWS BRIEFS
Bossard Reports Sales ‘Maintained’ in Challenging Market
Bossard Group reported sales fell by .4% in Swiss francs to CHF 251.4 million in the opening six months of 2012.
“Whereas America reported double-digit sales growth, customer demand in Europe and Asia was in line with the declining Purchasing Managers Indices,” the company stated.
Six-month sales in America gained 13.2% to CHF 75.6 million, while European sales dipped 5.2% to CHF 136 million, and Asia sales fell 5.5% to CHF 39.8 million.
Sales in America grew 22.1% to CHF 37.5 million in the second quarter of 2012, while sales in Europe fell 5.9% to CHF 65.9 million, and Asia sales declined 3.7% to CHF 20.9 million. Overall Group sales gained 1.6% to CHF 124.3 million
Six-month net income declined 4% to CHF 22.1 million, which corresponds to a return on sales of 9.1%, down from the 10.3% return on sales in 2011.
“Although sales were more or less maintained at the prior year’s level and profit was marginally lower, development of sales revenues and of net income improved again compared to the result achieved in the second half of 2011,” the company stated.
Prospects in the coming months appear to weaken.
“Given the current return to a climate of uncertainty as a result of the continuing euro crisis and a downturn in sales in Asia, Bossard anticipates slack demand overall in the second half of the year.
“In this challenging market environment the Group will continue to pursue its defined market and product development strategy, even if this should be at the expense of its results in the short term.” ©2012 GlobalFastenerNews.com
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