GERMANY: Krones enjoys profit leap
German packaging giant Krones has reported a 7% rise in earnings for the first nine months of the year thanks to a series of efficiency and cost-cutting measures.
The company said today (6 November) that net profit was up 7.1% to EUR48.5m (US$61.6m). Sales jumped 11% to EUR1.3bn.
Krones said it had managed to boost orders during the third quarter despite "continuingly fierce" competition throughout the sector.
"Earnings have of course been adversely affected by external factors, such as continuing predatory competition and rising costs for materials," the company said.
"But for 2006 as a whole, the figures for the past nine months augur an approximately double-figure growth in sales."
- Whatever happened to binge Britain? - comment
- The dangers of squaring up to your competitor
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Constellation and Ballast Point's "sticker shock"
- Diageo Australia appoints commercial head
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- A-B InBev to "kick the tyres" at Coca-Cola
- Irish whiskey brands could fail without bulk
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Wine Market to 2019 - Market Size, Development, and Forecasts
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market: News and Events September 2015