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Saurer revenue grows 37% to ¥8,713 million in 2017
23
Apr '18
Courtesy: Saurer
Courtesy: Saurer
The Saurer Group, a leading operating technology group focusing on textile machinery and components for yarn processing, has recorded 37 per cent growth in its sales revenue to ¥8,713 million for the year ended on December 31, 2017. The company recorded outstanding performance in China and Turkey with a growth of 70 per cent for the reported period.

China and Turkey experienced the highest growth rates in 2017, +71% and +70% year-on-year respectively. Within three years, Uzbekistan has become the fourth-largest market for Saurer, posting over ¥500 million in sales revenue, Saurer press release said.

In 2018, The Saurer Spinning Solutions and Saurer Technologies business segments both aim to better serve customers’ needs, to enhance operational efficiency and to integrate and anticipate technological innovations. Saurer Spinning Solutions provides customers with services along the entire bale-to-yarn production process. Saurer Technologies concentrates on ennobling solutions, on line monitoring and sensor technology, as well as components contributing to various stages within the textile manufacturing process.

"2017 was a year of substantial growth for Saurer as the group continued to benefit from strong demand for all textile solutions and components. With growth in sales revenue by 37 per cent to ¥8,713 million, an excellent earnings generation with profits before tax of ¥ 996 million and a profit margin of 11.4 per cent, Saurer has successfully strengthened its position as the globally leading integrated textile equipment supplier, offering a suite of solutions from bale to yarn," Clement Woon, chief executive officer, said.

In 2017, the company was successful in making remarkable progress in further aligning its business to the needs of its customers, advancing technologically and developing its management. It continues to leverage the advantage of operating in some of the most dynamic and attractive markets in the world As a listed subsidiary of the Jinsheng Group, Saurer is in a very favourable position to profit from unprecedented economic opportunities across these markets, including in China with its vision of the textile industry as well as the ‘One Belt, One Road’, ‘Industry 4.0’ and ‘Made in China’ initiatives.

"As we continue to execute on our strategic priorities and build on our competitive advantage, I am confident that our teams have the determination and passion to deliver continuous growth and stable margins throughout the cycle and create even greater long-term value for investors and society," concluded Woon. (RR)

Fibre2Fashion News Desk – India


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