Groupe SEB Revenues Up, Profits Down in First Half
French small appliance maker Groupe SEB reported first-half organic revenue growth of 3.1%. The company said operating result were down slightly, which the company said was expected.
Revenue in the first half of 2013 was EUR 1,835 million, up 2.5% from the first half of EUR 1,790 million.
Operating profit was EUR 117 million in the first half of 2013, down 7.2% from EUR 127 million in the first half of 2012.
"Following a lackluster year in 2012, the first half of 2013 saw a return to revenue growth for Groupe SEB," said Chairman and CEO Thierry de La Tour d'Artaise. "In a contrasted, uncertain environment, our product dynamic and extensive international footprint once again represented our strongest assets for capturing the full potential of our markets. While France temporarily represents a challenge, which is adversely affecting our revenue and earnings, the group managed to drive growth in all its other major regions.
He added that new challenges, including social unrest in Turkey and Brazil and certain currency volatility, is not dampening Group expectations for full-year 2013 expectations.
to Daily News