Results from Fagerhult's Interim report for the first half-year 2005, January to June, shows success with continued growth for both sales turnover and operating profit in all markets internationally. The group is also moving quickly to establish operations in other countries, with a new factory in China and new offices opened recently in Spain.Group net turnover increased by 23.8% from the previous year, to E 88.75 (71.88) million. The Group's earnings have increased by 160% to E 4.57( 1.76)million. A contributing factor for the profit improvement is increased sales and the acquisition of LampGustaf in Sweden. This acquisition is part of Fagerhult's overall strategy to develop business divisions in Retail, Professional, Outdoor and Domestic lighting segments.
LampGustaf is a leading Scandinavian retail lighting company that will spearhead the company's move into retail. Fagerhult's growth in this area has already gathered momentum and this should be strengthened by the opening later this month of a new Lighting Experience Centre at LampGustaf in Bollebygd, Sweden. Over 800 Sq m of space will be devoted to lighting demonstration, education and research, underpinning a major investment in the retail lighting sector. The venue will provide an international forum for customers who can look forward to an impressive operation, located only 20 minutes from Gothenburg airport.
The Fagerhult UK Company, Fagerhult Lighting, now in its 7th year of trading is becoming a significant contributor to the overall success of the group, with recent results showing a promising trend to reaching their target of over £6 million for 2005.
Commenting on the recent results, David Francis, Managing Director said, 'It is very good to see that the new strategies introduced throughout the company are bringing success, and we look forward to a strong future growth'
