VDI Group SA Announces Earnings Results for the First Half Year of 2014; Provides Financial Guidance for 2014
October 08, 2014 at 01:49 pm IST
VDI Group SA announced earnings results for the first half year of 2014. The company closed the first half of 2014 with a net loss of EUR 190,000 compared with a net profit of EUR 420,000 booked a year earlier. The deterioration in the group's net result is attributed to a EUR-1-million goodwill amortization associated to the sale of some assets under the Direct Hygiene Industrie brand. The group boosted turnover by EUR 2 million to EUR 28.2 million. Operating profit stood at EUR 1.9 million, up from EUR 1.3 million.
The company expects improvement in its 2014 results, attributed to its strategy to divest part of the hygiene and security business and focus on the more dynamic and successful batteries business.