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Oerlikon net profit fails to shine

The Swiss technology group Oerlikon has reported a 2007 net profit of SFr319 million ($320 million), a figure that fell short of market expectations.

This content was published on March 27, 2008 - 11:23

The company said the cost associated with the takeover of Swiss textile manufacturer Saurer had an impact on the result.

However, it said in a statement on Thursday that the takeover of Saurer had proved a success.

"For 2008, we are expecting sales of over SFr6 billion and a further increase in earnings," commented Oerlikon chairman Georg Stumpf.

Sales in 2007 were SFr5.63 billion, an increase of 20 per cent compared with those in the previous year.

Analysts had forecast a 2007 net profit of SFr323-366 million.

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