Merloni to Post 25-Percent Growth Jan 15, 2003

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Italy's Merloni Elettrodomestici SpA, an appliance maker, is set to post 25-percent sales growth for 2002 and hopes to match that pace in 2003, said CEO Andrea Guerra. Mr. Guerra said Merloni's total sales for 2002 were set to be around 2.5 billion euros (U.S. $2.64 billion) when full-year results are released on Feb. 5, compared with 1.97 billion ($2.07 billion) in 2001.

He forecast turnover in 2003 at more than 3 billion euros ($3.17 billion). "We expect around 23-25 percent growth this year and around the same next year, but it will be the last year at that level," Mr. Guerra said. "But we aim for double-digit growth from 2004 onwards," he added. (Reuters)

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