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Sales up, profits down for Kyro

Post Time:Nov 12,2013Classify:Industry NewsView:52

Although sales increased 1.7 percent to $240.3 million in the first three quarters of 2006 for Finland’s Kyro Group, operating profits slipped 19.3 percent to $17.7 million, according to a Nov. 8 company release. Company officials attribute the fall in profits to non-recurring investments, including an efficiency program and a restructuring of the company’s glass processing group, according to the release. Kyro’s Glaston Technologies business, which includes Finland’s Tamglass and Italy’s Z. Bavelloni, saw net sales of $207.3 million, down slightly from $210.6 million in the first three quarters of 2005. Operating profits for Glaston Technologies reached $14.4 million, down from $21.3 million in the same period last year. Officials say lower demand for new and used safety glass machines hurt profits and sales for the glass machinery group. According to the release, that trend will reverse in the last quarter.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/sales-profits-down-kyroAuthor:

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