7/15/2016 12:30:00 AM
NEWS BRIEFS
Bossard Sees Growth In “Challenging” Market
The Bossard Group reported sales grew 2.1% to CHF 343.6 million ($350.5 million), with net income growing 5.6% to CHF 31.3 million.
“The positive growth dynamics enabled the Group to boost the sales in the second quarter by 3.3% (0.9% in the first quarter).”
The European business, which accounts for around 60% of total sales, contributed “significantly” to the group’s growth, achieving a 4.4% increase to CHF 207.7 million.
“Key markets such as Germany, France and Denmark logged above-average growth rates,” the company stated.
Overall first-half net income rose 5.6% to CHF 31.3 million.
In the U.S., Bossard sales for the first six months fell slightly by 0.9% to CHF 86.4 million.
“To our satisfaction, business with the largest U.S. electric vehicle manufacturer was up, even though the number of vehicles produced in the first six months fell short of the original forecast.”
In Asia, sales decreased 1.4% to CHF 49.5 million.
“In China, our largest market in Asia, demand remained sluggish. However, the slight sales drop in this market region was more than compensated by additional business in other countries.”
Bossard said progress in India, Taiwan, and Singapore was “particularly promising.” Web: bossard.com
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