Swiss Textile Machinery Company Lida: Profits In The First Half Decreased By Nearly 20%

Switzerland

Enterprise group released its first half performance in 2012.

The number of orders accepted is higher than that in the second half of 2011. As expected, sales decreased and profits decreased, as sales volume shrank and the company's investment plan entered the orbit of 2012/13 investment plan.

The order reached 404 million 100 thousand Swiss francs, which was 40% less than that in the first half of 2011.

However, the order received by Lida in the first half of 2012 is still higher than that in the second half of 2011.

Sales during the reporting period reached 487 million 300 thousand Swiss francs, representing a 19% decrease over the same period last year.

Interest and tax profit fell from 70 million 600 thousand Swiss francs to 32 million Swiss francs due to reduced sales and increased investment.

This figure is equivalent to the output of enterprises (12.8% in the first half of 2011).

Net profit is 21 million 900 thousand Swiss francs, equivalent to 5% of the company's output (91 million Swiss francs or 16.5% in the first half of 2011), and the recurrent capital gains are 42 million 300 thousand Swiss francs.

During the reporting period, Lida completed the main steps of the 2012/13 investment plan announced in spring.

The company has already achieved its medium-term main objectives, and the plan is now in operation.

2012 the first half of the year is characterized by the widespread development of Lida in the relevant geographical market.

The global economic uncertainty is short.

And accessories sales in China and Turkey market, due to specific reasons for the industry, India demand is still weak.

Last summer yarn stock remained very large this year.

Continued decline.

The overall profit situation of spinning mills has improved, though there are regional differences.

Compared with the exceptionally strong period of last year, orders received by Lida in the first six months of 2012 decreased by 40% to 404 million 100 thousand Swiss francs.

The spinning system (machinery, parts and service business) of the Lida Group and the advanced textile components (parts business) are all affected by this recession.

However, the number of orders received is higher than that in the second half of 2011, and is widely distributed.

The largest number of orders placed by Lida is from China, Turkey and other Asian countries, including Indonesia and Pakistan.

Near East and Middle East and Africa customers have a large number of orders for short fiber machinery and technology.

On the contrary, orders for this important market in India remain at a very low level.

By the end of the first six months, hand orders partially reflected sales in 2013, which amounted to more than 515 million Swiss francs (2011 Swiss francs in the first six months of 2011).