Posted January 12, 2010
Bossard Group reports 24.5% sales decline
Swiss fastener distributor Bossard reported that its Q4 sales totaled CHF 95.2 million (about $93.4 million), down 24.5% compared to the same period last year.
The company said the market environment either "stabilized further or improved noticeably," particularly in Europe and Asia. "Thus, for the first time since the recession, sales were up on the result for the previous quarter. This very satisfactory development was better than anticipated and suggests the beginning of an upturn," according to a company statement.
For the full year Bossard Group reached total sales of CHF 395 million ($398.6 million), a decrease of C30.2 %.
Demand in North America was noticeably weaker in Q3 2009. Sales dropped in Q4 2009 from $34.6 million to $22.8 million, a decrease of 34.2%. Total sales in North America for 2009 amounted to $102 million, 29.4% lower than in the prior year.
