March 10, 2016
The remanufacturer saw a small fall in sales and profit, and has adjusted its 2016 sales targets down.
Reuters reported on the results from Turbon, which included consolidated full year sales of €107.2 million ($117.5 million), a drop from €107.9 million ($118.2 million) last year, alongside a group profit of €6.2 million ($6.7 million) compared to last year’s €7 million ($7.6 million). The remanufacturer did increase its forecast for group profit to €7.5 million ($8.2 million) for this year, but has adjusted down its group sales target for the year to between €112 million and €115 million ($122 million to $126 million).
In October last year, the remanufacturer acquired fellow remanufacturer Embatex, in a purchase which it claimed at the time would bring Turbon’s group revenue to around €110 million ($121 million) for the full year. This was said to move it closer to its medium-term target of €150 million ($165 million), after the two companies had announced in 2014 that they would be partnering in Europe, specifically in terms of research and development as well as toner cartridge remanufacturing.
Turbon’s consolidated sales for the first nine months of 2015 were €80.3 million ($88.7 million), missing its target figures and increasing only marginally on the 2014 figure. The company also achieved consolidated profit of €3.4 million ($3.7 million) for the period, down from €5.4 million ($5.9 million) for the previous year. The Recycler also reported in August last year on a first-half sales increase for 2015 for Turbon of 6.6 percent to €56.8 million ($63.2 million), a growth of €3.5 million ($3.8 million) from the “comparable period of the previous year”.
Categories : World Focus