BAAR, Switzerland (Aug. 19, 2010)—Belting, adhesives and flooring group Forbo's operating profits rose 79.7 percent to $81.4 million in the first half, as demand stabilized and the firm reaped the benefits of structural changes.
The company said its net sales rose to $891.2 million.
Forbo said its expanded sales and distribution organization, coupled with structural adjustments in the past two years, new and innovative products, and a strong customer focus are now yielding results. Growth in customer segments such as machine tools, plant engineering and consumer durables helped the firm grow.
The company's Bonding Systems and Movement Systems division reported double-digit sales growth, while Flooring Systems revenue advanced 1.5 percent, Forbo said. The Movement Systems Division, which makes polyurethane and other belting, had a 101.1-percent rise in sales.
in local currencies.