Belimo boosts sales and earnings
The Belimo group, which is active in technology for heating, ventilating and air conditioning systems, has reported increased sales and earnings in 2001.
A statement from the company’s headquarters near Zurich said that net sales increased by more than seven per cent to SFr229 million ($137.79 million) compared to the previous year.
Net profit of SFr23 million was “slightly higher” than in 2000, the statement added.
Belimo said that the result was decisively marked by the relatively low sales of November and December, with business very weak in the United States in particular.
It added that equipment orders for large construction projects had been postponed at short notice.
The group said that with a sales increase of more than 25 per cent, growth in the business unit Asia was proof that investments in the developing markets in the Asia-Pacific area were beginning to pay off.
For the year 2002, the Belimo group said it expected stronger sales and earnings growth rates.
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