First quarter result: double digit growth for Biesse Group
All of the Company’s Divisions are showing double digit growth with a particularly significant performance by the Glass/Stone Division.
"We are happy to report an extremely positive first quarter, - both in terms of growth and profitablity – stated Stefano Porcellini, Group General Manager, following the Board Meeting. The order intake in these first few months of the year support estimates of a very positive 2015, in line with or more probably greater than the challenging targets set in the three year plan.
All of the Company’s Divisions are showing double digit growth with a particularly significant performance by the Glass/Stone Division which is showing growth of +35% compared to the same quarter of 2014. All markets are seeing increasing demand, including Italy, the only exceptions being Brazil and Russia, which are still suffering.
On the financial front – Stefano Porcellini continued – Net Debt has fallen to Euro 12.7 million compared to Euro 33.1 million at the same point in the previous period of 2014, which is a comforting indication of a further dramatic improvement expected for the full year to end- 2015, despite a doubling in the dividend distributed, which goes ex-dividend on 18 May (0.36 Euro cents per share)."