KBA forecasts further losses

30 June 2005

KBA expects to make a loss for the first half of 2005, an extension of its first quarter loss previously described as a temporary glitch.

The press manufacturer revealed in a trading update during its AGM that sales in the first six months, although up on last year, will fall short of the level needed to hit its annual sales target of 994m (Eu1.5bn).

For the first five months of the year sales were up 15% on the previous year.

Despite this setback and the ongoing pressures of low machinery prices and high raw materials cost president and chief executive Albrecht Bolza Schnemann said that higher sales and more profitable products in the second half of the year meant the firm was still on track to exceed last year's pre-tax profit of 10.5m.

He said that the firm's greatest achievement in 2004 was a return to profits for the web and special press arm. Results for the first half of the year will be released on 12 August.

Story by Barney Cox

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