May 11, 2017 / 4:47 AM / 3 months ago

BRIEF-Schaffner Holding H1 net profit improves to 4.2 mln Swiss francs

May 11 (Reuters) - SCHAFFNER HOLDING AG:

* IN H1 2016/17, INCREASED ITS NET SALES COMPARED WITH THE SAME PERIOD IN THE PREVIOUS YEAR BY 2.2 PCT TO CHF 94.6 MILLION (H1 2015/16: CHF 92.6 MILLION)

* H1 OPERATING PROFIT (EBIT) ROSE SUBSTANTIALLY TO CHF 6.0 MILLION (H1 2015/16: CHF 1.6 MILLION)

* H1 NET PROFIT IMPROVED TO CHF 4.2 MILLION (H1 2015/16: CHF 0.4 MILLION)

* CONFIDENT OF CONTINUING ITS RECOVERY AND EXCEEDING THE RESULTS OF THE SAME PERIOD LAST YEAR IN THE SECOND HALF OF 2016/17

* FOLLOWING THE TURNAROUND OF THE POWER MAGNETICS DIVISION, SCHAFFNER LOOKS FORWARD TO ACHIEVING ITS MEDIUM-TERM TARGETS, WITH ORGANIC GROWTH OF >5% AND AN EBIT MARGIN OF >8%

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Further company coverage: (Gdynia Newsroom)

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