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Electronics Production | October 22, 2006

PKC to increase sales and profit

Finland based Cable Harnesses Producer PKC Group's net sales in the January-September 2006 period increased by 11.4% on the previous year to EUR 163.3 million (146.7 million in Jan.-Sep. 2005).

Operating profit was EUR 20.3 million (19.4 million) and profit before taxes was EUR 19.7 million (20.1 million). The diluted earnings per share were EUR 0.76 (0.80). Mika Kari, President & CEO said “The integration of the Electro Canada companies which were acquired earlier this year is underway. Expansion to North America together with the start-up of operations at the factory in China, will strengthen PKC's position as a global wiring harnesses supplier. The start-up of operations at the Pskov factory is proceeding as planned. The purpose of the organisational revamp that has been carried out during the current year is to meet the challenges posed by the internationalisation of operations and the consolidation of the markets. The operational result was further burdened by the high world-market price of copper and expenses related to the start-up of new factories".
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