Bossard Group reported Q2 2018 sales of CHF 225.9 million, representing a 15.1% increase over the same period last year. Sales for the first half of the year reached CHF 446.3 million, a 13.0% increase, with growth reported from all operating regions.
Accounting for 58% of total sales, European business grew 16.7% in the first half of the year, to CHF 260.5 million. This reflected growth in local currencies of 10.4%. Second quarter sales showed an accelerated growth curve, with a gain of 18.7% to CHF 128.4 million (+12.8% in local currency).
American business grew 4.5% in the first half year to CHF 119.5 million (+7.7% in local currency), and the second quarter again saw improved growth at 7.0 (+9.0 in local currency).
Asian half year sales increased 15.3% to CHF 66.3 million (+11.8% in local currency), with increasing Asian demand evidenced by a second quarter sales increase of 17.6% to CHF 36.1 million (+14.0% in local currency). China was a major contributor to this increase.
Group Net income for the first half rose 20.4% (excluding a 2017 extraordinary gain from a real-estate sale) to a record high of CHF 49.0 million.
[CHF 100 is approximately EUR86 at interbank]
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, over 15 years of visits and interviews around the world means he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.