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.
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