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Gurit records 2017 first half sales at CHF 175.2 million

18 Aug '17

1 min read

Switzerland-based manufacturer of advanced composite materials Gurit has recorded net sales of CHF 175.2 million ($182.12 million) for the first six months of 2017. This represents a currency-adjusted decrease of 0.5 per cent and 3.9 per cent in reported Swiss francs over the previous year. Operating profit amounted to CHF 21 million for the reported period.

The business unit Composite Materials has achieved net sales of CHF 129.7 million in the first half of 2017 (HY 2016: CHF 136.0 million). This represents a decrease of 1.8 per cent on currency-adjusted basis and 4.6 per cent in reported Swiss francs.

For the first half of the financial year 2017, Gurit's Composite Components unit has reported net sales of CHF 9.8 million as compared to CHF 9.4 million in the first six months of 2016. This showcases an increase of 14.8 per cent on a currency-adjusted basis (plus 4.3 per cent in reported Swiss francs).

The acquisition of PH Windsolutions, the foundation of a balsa wood joint-venture in Indonesia and the integration of the acquired PET business into the company's Composite Materials business represent the key achievements in the first half-year 2017. (RR)

Fibre2Fashion News Desk – India

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