Thomson Financial has reported that Indesit Company SpA said its second quarter net profit increased from a year earlier, as a firm rise in sales offset restructuring costs, coming in in-line with analysts expectations.
Net rose to 11 mln eur, up from 7 mln in the second quarter of 2006, while EBIT was up 3.1 pct to 27 mln, EBITDA was down 2.5 pct to 36 mln, and sales were up 4.6 pct to 804 mln, the company said
‘Our sales have grown in a significant way, with strong points in Italy, Poland, Russia and markets outside Europe,’ said CEO Marco Milani.
‘The progress in our expansion plan allows us to foresee for the full year economic and financial results that will be ahead by a year of the targets fixed in the three-year plan for 2008,’ he said.
For the full year, the company said it sees sales up 4-5 pct, and EBIT of 185-190 mln eur.
The second quarter results included a one-off 17 mln eur restructuring charge linked to the closure of a UK plant, it said.