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Belgian Zetes seeing retail slowdown in 2012
March 20, 2012 / 4:52 PM / 6 years ago

Belgian Zetes seeing retail slowdown in 2012

BRUSSELS, March 20 (Reuters) - Belgian barcode and passports firm Zetes has seen a slowdown in the first months of this year as the financial crisis has impacted key retail customers, its chief executive said on Tuesday.

“It’s more at the level of retail where we saw a decline in orders at the start of the year,” Chief Executive Alain Wirtz told Reuters.

Food retail represents almost a third of Zetes’ main Goods ID division.

Zetes has decided to wait until its annual shareholders meeting in May before it looks at issuing a forecast for 2012 due to market uncertainty.

In 2011, the company’s core profit declined 5.5 percent to 17.7 million euros ($23.44 million) as revenue in its people identification division fell 19 percent from 2010, when it booked revenues from a contract with the Democratic Republic of Congo.

$1 = 0.7552 euros Reporting By Ben Deighton. Editing by Sebastian Moffett.

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