Saia Burgess releases disappointing figures
The electrical parts firm, Saia Burgess, has reported half-year earnings of SFr11.6 million ($6.8 million) on sales of SFr241.5 million.
The group’s earnings were lower than for the same period last year. The company, based in Murten, said its performance had been affected by the economic slowdown in the United States and Europe.
It added that the sales increase of 23.9 per cent was primarily due to the contribution from the US-based electric motor group, Ledex and Dormeyer that it bought at the end of last year.
The figures, released on Tuesday, were a little lower than analysts’ forecasts. Saia Burgess had warned in March that its earnings in the second quarter would be hit by the economic slowdown.
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