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Bossard Sales and Net Income Above Expectations
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2012-03-14
Bossard Group's interim report for 2011 reflects a 9 percent sales growth in local currencies. Group sales in Swiss Francs totaled 473.4 million, higher than the Q3 forecast.
Overall sales in the fourth quarter 2011 were higher than anticipated, despite a difficult market environment with decreasing growth forecasts and a strong Swiss franc. America again reported double-digit growth in local currencies whereas sales growth in Europe and Asia stagnated. Group sales in Q4 totaled CHF111.7 million, reflecting a year on year 3 percent increase in local currencies. Given the noticeably altered exchange differences, however, sales for Q4 expressed in Swiss francs were down 2.1 percent.
Bossard Group reported 2011 full year sales of CHF473.4 million, an increase of 9 percent in local currencies, higher than the forecast of around CHF460 million announced in Q3. However, the strength of the Swiss franc meant sales expressed in the Group's accounting currency were down 0.9 percent year on year. Fourth quarter European sales reached CHF61.4 million, up 0.7 percent in local currencies year on year but down 2.9 percent converted to Swiss francs. Total sales in Europe in 2011 reached CHF268.1 million– an increase of 8.3 percent in local currencies and 2.6 percent in Swiss francs.
A "satisfying increase in demand in America in the fourth quarter" meant sales were up 10.7 percent in local currencies (in CHF +3.7 percent). Sales for 2011 totaled CHF124.5 million, an increase of 13.7 percent in local currencies (in CHF -3.3 percent). Quarter 4 sales in Asia totaled CHF19.8 million. After sales in local currencies fell by 7.2 percent in the third quarter of 2011, there was only a slight drop of 0.5 percent in the fourth quarter. Sales for the year amounted to CHF80.8 million, reflecting 4.6 percent growth in local currencies (in CHF -7.7 percent).
Higher than anticipated, sales impacted positively on net income, which means the Group's profit will be higher than the CHF40 million forecast in the third quarter of 2011. The 2011 Annual Report will be presented on 7th March 2012, in Zurich.
Overall sales in the fourth quarter 2011 were higher than anticipated, despite a difficult market environment with decreasing growth forecasts and a strong Swiss franc. America again reported double-digit growth in local currencies whereas sales growth in Europe and Asia stagnated. Group sales in Q4 totaled CHF111.7 million, reflecting a year on year 3 percent increase in local currencies. Given the noticeably altered exchange differences, however, sales for Q4 expressed in Swiss francs were down 2.1 percent.
Bossard Group reported 2011 full year sales of CHF473.4 million, an increase of 9 percent in local currencies, higher than the forecast of around CHF460 million announced in Q3. However, the strength of the Swiss franc meant sales expressed in the Group's accounting currency were down 0.9 percent year on year. Fourth quarter European sales reached CHF61.4 million, up 0.7 percent in local currencies year on year but down 2.9 percent converted to Swiss francs. Total sales in Europe in 2011 reached CHF268.1 million– an increase of 8.3 percent in local currencies and 2.6 percent in Swiss francs.
A "satisfying increase in demand in America in the fourth quarter" meant sales were up 10.7 percent in local currencies (in CHF +3.7 percent). Sales for 2011 totaled CHF124.5 million, an increase of 13.7 percent in local currencies (in CHF -3.3 percent). Quarter 4 sales in Asia totaled CHF19.8 million. After sales in local currencies fell by 7.2 percent in the third quarter of 2011, there was only a slight drop of 0.5 percent in the fourth quarter. Sales for the year amounted to CHF80.8 million, reflecting 4.6 percent growth in local currencies (in CHF -7.7 percent).
Higher than anticipated, sales impacted positively on net income, which means the Group's profit will be higher than the CHF40 million forecast in the third quarter of 2011. The 2011 Annual Report will be presented on 7th March 2012, in Zurich.
