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Positive half-year for Tornos
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17/08/2007
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The first six months of 2007 saw Tornos take CHF 152.1 million (£62 million - CHF1 = £0.41) of new orders, up 7.1 per cent on the same period a year earlier.
While all geographical markets saw high levels of activity and all key market segments – automotive, medical, electronics and microtechnology – post growth, a particularly strong performance of the Swiss watch-making market is cited.
Net profit stood at CHF 20.0 million (£8.2 million) as at 30 June 2007, including a tax credit of CHF 2.8 million (£1.1 million) from the capitalisation in the balance sheet of deferred tax credits.
Assuming the economic climate remains stable compared with the last few months, and taking into account the cyclical and volatile nature of its business, the Group reiterates its forecast of sales between CHF 270 and 280 million (£111-£115 million) for 2007 as a whole.
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Author
Andrew Allcock
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