Arctic Posts First Half Increase Aug 3, 2007

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Home appliance manufacturer Arctic Gaesti, part of the Turkish Group Arcelik, reported a turnover of 99 million (about US$99 million) for the first half of 2007, a 24% increase from the same period last year.

Sales volume increased 12% from the first half of 2006 to 691.000 units, due to an increase in sales of sophisticated products. The growth rate is also a result of investment in technology and the increase of the Gaest plant's production capacity. Exports totaled 411,000 units, increasing by 60,000 units from the same period last year.

Arctic ended 2006 with a turnover of 726 million RON (€206 million), up 30% from 2005, while sales totaled 1.44 million units. Last year, the company's gross profit was 52.5 million RON (€14.91 million), or an 11% increase from 2005. (Bursa Online)

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