Heidelbergs profits for the year ending 31 March 2001 have exceeded expectations and sales across all divisions continue to grow.


And chairman Bernhard Schreier said he expected further growth in the months to come because the economic slowdown "has so far had hardly any affect on our business".


The groups preliminary results show that sales increased by more than 15% to 3.2bn (e5.3bn) helped by favourable economic development and a very successful Drupa.


UK managing director George Clarke said the group had a "particularly good year in the UK".


This was the fourth year in succession that the UK had reported stable results, he added. "We dont expect massive growth, but we have never had such a period of consistency."


Heidelbergs sheetfed division reported the highest divisional sales increase, rising by almost 17% to 2bn.


Digital sales were up by nearly 16%, while the web division reported a rise of over 15%.


The number of employees also increased by some 1,700, mainly due to the extension of the groups service and sales network.


Sales for Central Europe hit 1.1bn, with the Middle East/Africa, Asia Pacific and Central and South American regions reporting increases of over 30%.


The highest growth was reported in Eastern Europe, where sales grew 53% to 180m.


Incoming orders grew across all divisions, rising 18% to 3.4bn from the previous year.


Operating profits increased by 10% to 313m, and the groups net profit was up 13% to 175m.


Heidelberg's free float is also set to increase to "significantly above 20%" after major shareholder RWE said it would offer up to 5.275m shares for sale through an Accelerated International Tender, which will focus on national and international institutional investors.
This follows the announcement in March that it would sell up to 6.15% of its 56.15% stake in Heidelberg.
Story by Andy Scott