The Biella Group reports stable financial results for the first half-year of 2010 as the company sped up investment in production and IT.
Biella’s operating result (EBIT) ending 30th June 2010 was 0.1 millions CHF, compared to 0.2 millions CHF in 2009, affected by a sharp rise in materials prices and currency movements. Traditionally the company has higher profit and sales levels in the second half of the year.
Sales amounted to 65.6 millions CHF compared to 66.8 Mil. CHF in 2009. Biella reports weaker euro turnover, but revived demand in Poland and some other Eastern European countries.
In the first half of the year Biella has continued strategic investments in production plants and IT and the new enterprise software (project Progress) was introduced in Poland.