Swiss group announces profitable year

A Swiss electronics company has announced 2006 results showing an increase in sales of 13.5% and a jump in profits of 91.5%.

The Schurter Group of Switzerland has announced financial results for 2006 in which it increased its sales turnover by 13.5% to CHF 186.4 million (Swiss francs).

Cash Flow increased to CHF 16.4 million, up 37.6%, and profit increased by 91.5% to CHF 8.3 million.

The substantial increase in profit is primarily due to a positive economic environment, productivity increases and favourable rates of exchange.

In Europe, sales revenue increased by 13.5% to CHF 141.7 million.

Sales in North America also increased by 13.5%, to CHF 27.9 million.

In Asia, the sales results remained constant at CHF 13.0 million, compared with CHF 13.1 million the previous year.

The percentage of sales turnover outside Switzerland amounts to 87.5% at the present time.

The Swiss market also developed favourably where a sales turnover of CHF 23.3 million, an increase of 5.0%, was reached.

The Schurter Group is optimistic for 2007 although market activity has shown a slight slowdown.

This slowdown is noticeable in America and Asia, whereas in Europe, business is less affected.

At the beginning of the year Schurter acquired Ticomel SA of Mendrisio, Switzerland, a company with a consolidated sales turnover of approximately CHF 24 million, along with its affiliated company in Romania.

The integration process of the company is running smoothly.

At the end of the year 2006, the Lucerne-based family-owned enterprise had a work force of 1212 employees of whom 442 were employed in Lucerne, Mellingen and Mendrisio.

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