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Glaverbel Group: record result for the first half year despite slowdown in economy
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At the end of the first half of 2001, the Glaverbel Group enjoyed a large increase in its results, confirming the quality of strategic options taken several years ago in favour of innovation and geographical diversification. Sales were up by 8% compared with the corresponding period in 2000, while the operating result rose by more than 54%.
These improvements are mainly due to:
the firm sales prices;
the increasing proportion of products with high added value in the Building and Industries divisions;
the sales volumes continuing at a high level, the enrichment of the product mix and the initial effects of the plan for improving the performance of the Automotive division.
Taken altogether, these factors largely made up for the rise in raw material and energy costs, and for the slowdown in the economy during the second quarter.
The net result (Group's share) is up by more than 42% after setting aside large provisions to fund the plan for improving the performance of the Automotive division
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September 21st, 2001
Source: Glaverbel |
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