Georg Fischer posts 21 per cent rise in turnover

Georg Fischer which produces automotive protucts. Georg Fischer

The Swiss engineering concern, Georg Fischer, has reported a 21 per cent increase in turnover in the first half of the year. And it has issued an optimistic forecast for the rest of the year.

The Schaffhausen-based company said its turnover in the first six months reached SFr1.8 billion.

Earnings before interest and taxes rose by 34 per cent to SFr121 million.

Profits also rose sharply. Fischer said its half-yearly profit was SFr70 million – nine per cent up on the same period of 1999.

The company, which concentrates mainly on automotive products, said it expected its results this year to be well above last year.

In other business, the Agie Charmilles group, which is mainly owned by Georg Fischer, has also posted strong first half results.

Profits rose by 131 per cent over the same period last year to SFr23 million.

swissinfo with agencies