The board of directors of Indesit Company met today in Milan, Italy, to approve the consolidated financial statements for 2005.
As reported by APPLIANCE magazine on Feb. 15, 2006, Indesit's consolidated financial statements for 2005 show net profits for the group of 51 million euros (approx. U.S. $61 million), down 49 percent from 2004's 100 million euros (approx. $120 million), due to decreased sales and substantially increased raw material prices. Sales in 2005 were 3.064 billion euros (approx. $3.665 billion), compared to 3.100 billion euros in 2004 (approx. $3.708 billion).
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