Forbo expects record profits

The Forbo Group, which is active in floorings and industry specialties, says it is expecting record profit from last year's business.

In a statement from its headquarters in Eglisau, canton Zurich, Forbo said sales, excluding divestments, rose by four per cent to SFr1.598 billion ($960,000 million).

It added that the company was expecting group profits to rise to some SFr90 million, corresponding with five per cent of sales.

In 2000, turnover from floorings was just over SFr1 billion, with linoleum sales rising by two per cent to SFr411 million. In America and Asia, linoleum demand was up by 27 per cent.

Developments were also positive in Britain and France but declining sales were recorded in Switzerland, Germany and Scandinavia, mainly due to the general trend of the flooring market.

Forbo said it could look back on a “dynamic” year in the industrial belting business, with a sales increase of 14 per cent to SFr384 million.

Record sales were reached in Asia (+30 per cent) and in the United States (+20 per cent).

It added that for 2001, it expected to see further improvements in group profits but said sales would be lower due to the divestments made last year.

Forbo employs 6,000 people worldwide and has an international network of 28 production companies in 12 countries, and 67 marketing organisations in 25 countries.

swissinfo with agencies