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Exotic Fabrics turnover go up at Helmond-based textile player

Apr '07
Gamma Holding's turnover totalled EUR 194 million in the first quarter of 2007. Adjusted to take account of currency effects of EUR -6 million, turnover is comparable to the strong first quarter of 2006.

The operating result amounted to EUR 17.2 million. Adjusted to take account of currency effects of EUR -1.4 million, this represents an increase of 7% on last year. As in 2006, no restructuring charges were taken in the first quarter of 2007.

The net group result increased by 12% from EUR 8.9 million in 2006 to EUR 10.0 million in 2007, mainly as a result of an improved result of associates and joint ventures. Adjusted to take account of currency effects of EUR -0.5 million, the net group result was 19% up on last year.

The turnover of the Gamma Technologies sector totalled EUR 124 million. Adjusted to take account of currency effects of EUR -5 million, this is comparable to last year's figure.

Within the Gamma Technologies sector, Belting Technology benefited from previous efficiency measures and continuing strong demand for processing belts for the food processing industry. Turnover growth was posted mainly in America, where last year the business unit acquired Goodyear Rubber Supply & Co, and in Asia.

Filtration Technology's turnover increased on a comparable basis. The business unit is expanding its sales network across the globe and strengthened its position in South-East Asia through the acquisition in March of Kirin, a company specialising in wet and dry industrial filtration products, with facilities in Singapore and Malaysia. Kirin posted turnover of approximately EUR 4 million in 2006. In addition, Filtration Technology managed to resolve the labour conflict at National Wire Fabric in Arkansas.

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