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Metall Zug more than doubles profits

The industrial and property group Metall Zug has reported good figures for the first six months of 2010 and significantly increased its turnover by 9.1% to CHF 397.8 million. It has also been able to increase its operating profit to CHF 44.2 million, more than double what it achieved in 2009.
 
According to a statement from the company, all its divisions were able to increase their turnover and profit. Its household appliance area grew by 6.7%, though the Sibir brand recorded a 2.6% fall in turnover, probably due to the high price pressure in the sector.
 
However, V-Zug household appliances enjoyed an increase in turnover of 9% with an 8% increase in the infection control sector. The Belimed brand of cleaning agent and disinfectant products recorded a remarkable 21.9% in orders. Growth of 25% was recorded at Schleuniger, the manufacturer of cable processing machinery, which is part of the wire processing division of Metall Zug.
 
The company had previously been forced to dismiss some 85 of its 500 employees at the height of the economic crisis, but is now looking forward to the second half of the business year with increased optimism, with investors reacting positively to the good results. Metall Zug has now corrected its forecast for an operating profit of CHF100 million by the end of the year as opposed to the previously forecast figure of CHF 820 million.

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