Global Fastener News

Bufab Sales & Orders Increase

October 10
09:49 2017

Bufab Group reported sales grew 8% to SEK 823 million (US$101.9 million) in the second quarter of 2017, Fastener + Fixing Magazine reports. Organic growth was 3%, slightly lower than in the first quarter.

Q2 order intake increased 13% and was higher than net sales, while operating profit declined to SEK 77 million and the operating margin declined to 9.4%. Bufab said Q2 performance was hurt by raw material prices, with the “deterioration” in gross margin during the quarter was primarily due to rising purchase prices. 

During the first six months of 2017, sales rose 11% to SEK 1.64 billion with organic growth at 6%. Operating profit increased to SEK 167 million (2016: SEK 153 million) and the operating margin was 10.2%.

CEO Jorgen Rosengren said Bufab’s International segment had achieved increased market share in most markets, with growth in the UK and continental Europe, but a softer performance in Norway, Finland and Asia. The company will continue to focus on raising prices to customers – although to date increases had not been sufficient to offset cost increases, according to Rosengren. Web: Bufab.com

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Only registered users can comment.

Register for our Mailing List

Sign up now to receive valuable weekly news about the fastener companies, people, and trends impacting the industry. REGISTER NOW
error: Content is protected !!