KBA upbeat despite Q1 slide

News by

20 May 2004

KBAs losses deepened during the first quarter of 2004, with sales well below target, but the German press manufacturer exceeded its expectations at Drupa and is predicting it will post a profit for the year as a whole.

Pre-tax losses rose 23% to 3m (EUR4.3m) for the three months to 31 March on sales up 7% to 175m well below target. New orders increased 34% to 210m.

KBA's web and special press division achieved new orders of 92.2m, a rise of 63.2% on the previous year. Sales of 77.1m, up 13.5%, fell short of the target.

Orders for sheetfed offset presses increased 17.4% to 118m, with overall sales of 98.1m a rise of 2.3%.

The firm reported sales to date at Drupa of "a few million euros", with orders for sheetfed presses surpassing the levels enjoyed at Drupa 2000.

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