Indesit have posted a 24.7 percent fall in third-quarter net profit on a consumer slowdown and currency volatility and warned of a “difficult” last quarter leading to lower sales for the year.
Indesit, which makes appliances under Hotpoint, Scholtes, Ariston and Indesit labels, said in a statement on Wednesday net profit was 25.7 million euros.
Turnover fell 9.1% to 858.3 million Euros.
“We are dealing with an unprecedented international crisis,” Indesit Chairman Vittorio Merloni said in the statement.
“We remain confident about the company’s future and are ready to take up opportunities for growth. The unfavourable exchange rates and the negative trend in our markets have not compromised our underlying strengths.”
Indesit said the last few months of the year would be difficult with the consumer slowdown continuing.
It forecast turnover for the year at 3.2 billion euros and operating profit between 140-150 million euros.
At constant exchange rates, it said 2008 turnover would be down 2.3 percent while operating profit would be up between 17 percent and 22 percent.
Last year, revenue stood at 3.44 billion euros.