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| ALSO Group generates CHF 8.6 million profit in first half of 2009 Swiss elevator and escalator maker Schindler said its subsidiary ALSO generated a net profit of CHF 8.6 million in the first six months of 2009 (2008: CHF 2.1 million). Continuing operations reported consolidated sales of CHF 1 949 million, 14% less than in 2008 (CHF 2 271 million), and a net income of CHF 8.1 million (2008: CHF 8.9 million). After currency adjustments, sales would have been 9% below last year's figure. The equity ratio rose to 28%. On reference date, ALSO had 1 476 employees, 238 (-14%) less than in the previous year. The noticeable downturn in the demand for IT products will probably continue into the second half of 2009. In the present, uncertain market environment, it is difficult to predict how the third quarter and, above all, the seasonally important fourth quarter, will turn out. Assuming that the situation does not deteriorate in the second half of the year – and excluding unforeseen circumstances – ALSO expects net sales of CHF 4 billion for 2009, with a net profit of about CHF 15 million. write your comments about the article :: © 2009 Construction News :: home page |