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Rieter reports growth in difficult economic environment

Rieter's profit for 2001 will not match that of the previous year Keystone Archive

The Rieter Group, based in Winterthur, reported on Tuesday that its net sales last year exceeded SFr3 billion ($1.77 billion) for the first time.

This content was published on February 5, 2002 - 13:59

However, the supplier of systems and services to the textile and automotive industries repeated that its 2001 net profit would not match the 2000 level.

In a statement, Rieter said that sales had increased by 8.1 per cent to SFr3.17 billion, compared with the performance of 2000, driven by a 13.5 per cent increase in textile systems sales revenue.

Rieter had a net profit in 2000 of SFr146 million on sales of SFr2.93 billion.

The group commented that the Asian countries - in particular China - were the main sales drivers in the textile systems business. However, following the boom conditions experienced in 2000, the world market for textile machinery weakened in 2001, it added.

The final figures for the 2000 financial year will be announced on April 10.

swissinfo with agencies

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