Bekaert profits rise on lower sales

ERJ staff report (DS)

Kortrijk, Belgium -- NV Bekart SA has reported strong results for the 12 months ended December 2009. Group sales were down by around 10 percent, but the company reporter higher margins and higher profits.

Bekaert no longer breaks out its results from the steelcord business, and the company made no comment on that business in its results presentations.

Overall, the company reported consolidated sales of euro 2437 million, down from euro 2662 million in 2008. The operating result (EBIT) saw profits rise to euro 232 million from euro 210 million a year ago.

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Press release from Bekaert