Hirsch Servo Achieves Turnaround in EBIT

IndustrialsIndustrial Goods ♦ Published: October 28, 2011; 10:20 ♦ (Vindobona)

Total sales of the Austrian machine manufacturer and packaging supplier increased by 8%. EBIT improved by € 7.6m to € 2.2m.

Hirsch Servo Achieves Turnaround in EBIT / Picture: © Hirsch Servo

The Hirsch Servo Group reported that the economic situation generally tended to be more positive in fiscal 2010/11 but the full force of the financial crisis was still being felt. In the period under review, total sales increased by around 8% to € 92.6m (PY: € 85.9m). The operating profit (EBIT) was up € 7.6m to € 2.2m (PY: minus € 5.4m) and the profit on ordinary activities…