Indesit Q3 Net Profit Down 24.7% Oct 30, 2008

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Italian white goods maker Indesit posted a 24.7% fall in 3Q 2008 net profit and warned of a "difficult" last quarter leading to lower sales for the year. Net profit was €25.7 million (approx. US$32.76 million).

"We are dealing with an unprecedented international crisis," said Chairman Vittorio Merloni. "We remain confident about the company's future and are ready to take up opportunities for growth. The unfavourable exchange rates and the negative trend in our markets have not compromised our underlying strengths."

Indesit said the last few months of the year would be difficult with the consumer slowdown continuing. It forecast turnover for the year at €3.2 billion ($4.17 billion).

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