Mid-year financial results for Krones, the German provider of beverage bottling, canning and packaging machinery, show a continued improvement in both the company sales and its profits.
The company reported that order bookings during the first six months of the current business year rose by 9.5 per cent to reach €663.9 million. Consolidated sales in the first half of the year, at €717.5 million, were up by 7.1 per cent, which allowed profits after tax to increase by a more modest 6.8 per cent, to €34.4 million.
Krones attributed the rise in both sales and profits to its "lean" planning programme, continual optimisation of process sequences inside the company, capital investment in new machinery for upgrading productivity, intensified research and development, plus stringent cost control and a restrictive hiring policy.
For the year as a whole, the group said that it is now anticipating sales of more than €1.4 billion - an increase of 9 per cent. The group also added that it expected order bookings to show a similar steep rise.
Profits for the year after taxes are expected to top €60 million.