Bufab Group began 2019 with a strong first quarter, with “continued healthy growth” and increased profit, Fastener + Fixing Magazine reports.

Group sales increased 15% to SEK 1.091 billion (€88.96 million), driven by acquisitions, increased market share and stable demand. Organic growth was 6%. Operating profit  rose to SEK 119 million and the operating margin dipped to 10.9% (2018 Q1: 11.2%).

Bufab’s International segment organic revenue grew 8%, according to Fastener + Fixing. Growth was particularly strong in central Europe, the UK, northern Europe and southern Europe.

“Our newly acquired companies are contributing to increased sales and profits, while also significantly strengthening our customer offering, something we see concrete evidence of in our daily sales,” stated CEO Jorgen Rosengren. “It is part of our strategy to make additional value-adding acquisitions also in the future.”