Hirsch Servo Still in the Red

IndustrialsIndustrial Goods ♦ Published: May 31, 2011; 14:31 ♦ (Vindobona)

The Austrian machine manufacturer and packaging supplier improved its results in the first three quarters of the financial year. Operational turnaround is still planned for 2010/11.

Hirsch Servo Still in the Red / Picture: © Hirsch Servo

Hirsch Servo group presented its figures for the first nine months today. Sales totaled € 66.9m (PY: € 57.4m), up around 16% year on year. The operating profit (EBIT) increased to € 0.34m (PY: minus € 5.89m) while the profit on ordinary activities (POA) was € -1.59m (PY: € -7.28m). Profit after tax improved to € -2.16m (PY: € -7.38m) with the balance sheet loss at €…