Krones, the German company which manufacturers packaging machinery, has revised its sales growth forecasts for 2002 from 5 per cent to 10 per cent after an improvement in half year results.
The company said it had seen record figures for order bookings, sales and profits during the half, with demand for machines, systems and service support continuing to rise.
Orders increased by 10. 9 per cent in the first half to reach €606.4 million, while sales during the same six-month period were €669.9 million, a 15.8 per cent increase on the previous year. Net profits for the half were €32.2 million, a 28.3 per cent rise over the same period in 2001, lifted not only by the increase in sales but also by improved efficiency at the company.
Taking into account the better-than-expected performance in the first half, the German group has forecast that consolidated sales will grow by almost 10 per cent in 2002. In 2001, sales were €1.17 billion. Net profits are also expected to show a sharp increase on the previous year's €50.3 million. Previous profit growth estimates were in the region of 10 per cent.