Von Roll sees profits fall despite improved sales
The steel, engineering and environmental services group, Von Roll, has reported slightly lower net profit for the first six months of the year but encouraging sales figures.
Net profit came in at SFr1 million ($580,000) compared to SFr4 million for the same period last year. Sales grew by nine per cent to SFr870 million. New orders were slightly up at SFr923 million.
The company said one-off financial charges and a higher tax burden brought down net profit. It attributed the improved sales to a radical restructuring plan, which it said was bearing fruit.
Von Roll says its “Focus 2000” plan will take three years to complete. Under the plan, Von Roll plans to cut ten per cent its workforce or 650 jobs. There will be 100 redundancies in Switzerland.
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