French small appliance maker Groupe SEB reported 2.3% organic growth in revenue in the first quarter of 2013, to a total of EUR 931 million (approx. US$ 1.227 billion). Revenues for the quarter were up from EUR 911 million in the first quarter of 2012.
Profits in 1Q 2013 were EUR 73 million, down 6% from operating results from 1Q 2012.
SEB haw the 1Q 2013 economic environment remaining in a generally unstable state, dealing with the ongoing impact of recession. The result: most global mature markets saw sluggish consumer spending. Emerging markets, however, demonstrated renewed vitality.
"Against this backdrop, demand for small domestic equipment varied from one region and one product family to another," Groupe SEB said in reporting its quarterly results.
The Group's 1Q 2013 sales were up, although from relatively low prior-year results. Still, it interrupts a downward trend that the company saw in the second half of 2012.
to Daily News