Picanol records an 11% increase in the turnover in the first half of year 2017.
The Picanol group specializes in the production, development and sales of the weaving machines, the engineered casting solutions and the custom made controllers. The company has recorded an increase of about 11% in the turnover by the first half of the fiscal year 2017. The company also recorded a consolidated turnover of €364.7 million in comparison to the €329.7 million in the first half of the last year.
The gross profit in the first half of the current year was about €90.3 million as compared to €85.8 million in the first six months of the last year. These numbers made a gross margin percentage of about 25%.The operating result (EBIT) amounted to €71.2 million compared to €66.9 million last year.
The weaving machines division of the company has experienced a strong first half in the current year. The increasing demand for technology and quality brought strong sales, especially in Asia, with market share increases in many markets. As a result, Picanol placed a record number of weaving machines on the market in the first half of the current year.
The group closed their first half of 2017 with a net profit of €58.1 million, compared to €60.4 million in the first half of 2016. Further, the company is expecting an increase in the turnover over the complete fiscal year of 2017.
