Trigano FY profits lower on higher production costs; sees growth in 2008 |
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Published
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Thu, 22 Nov 2007 19:15
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PARIS (Thomson Financial) - Caravan and camping equipment maker Trigano reported a fall in full-year profits as warned previously in view of higher production costs.Net profit was 31.3 mln eur, down from 42.6 mln in the previous year and just below Natixis Securities' forecast for 32 mln.Operating profit fell to 57.8 mln eur from 69 mln, while operating margin dropped to 6.2 pct from 7.9 pct. Trigano recently cut its operating margin guidance to 6-7 pct from 8.5 pct previously.'The non recurrent costs entailed by the production of motor caravans on the new wheel bases have penalised as expected the results of the year,' Trigano said in its statement.The company previously reported full year sales of 934.6 mln eur, up from 872.5 mln.For fiscal 2008, Trigano said it expects to reach 1 bln eur in sales, supported by favourable market trends as well as increased production capacity and organisational changes.The company also said it expects 'to substantially improve its results starting in 2008'.tfn.paris@thomson.comgt/lhtCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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