European small appliance maker Group SEB reported results that exceeded previously announced targets, representing a satisfactory performance, according to a company statement. Consolidated net sales in 2003 were 2.3 billion euros (approx. U.S. $2.8 billion), down 5.9 percent from 2002, but almost unchanged (-0.1 percent) at constant exchange rates, after the previous year¹s strong growth. The appliance maker said demand was constant in the first quarter of 2003, but decreased as the year went on, with some markets holding up better than others.
to Daily News