Bosch reports increased sales for fiscal 2007
13/05/2008
Bosch has reported a good start to 2008, meeting its sales and earnings targets, despite the economic downturn.
The power tools manufacturer has reported an eight per cent increase in sales for the fiscal 2007 year, reaching 46.3 billion euros (£36.8 billion).
Bosch also reported a rise in profit from 3.1 billion euros to 3.7 billion euros, adding that 2007 was a "successful year".
Franz Fehrenbach, chairman of the Bosch board of management, said: "The fundamental strategy of the Bosch Group is the right one. Worldwide, we have a broad spectrum of growth."
He added that the company "had good reason to be confident" regardless of the economic downturn.
Mr Fehrenbach said: "We expect the Bosch Group to continue to perform well on the whole."
The consumer goods and building technology sector, which includes the company's power tools, increased sales by 6.5 per cent to 11.7 billion euros.
Bosch has previously reported that it predicts its 2008 sales to be the same as last year's.
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