Power tools and household appliances group Bosch has reported strong sales for the first quarter of 2014, with growth achieved across all business sectors.

To send a link to this page to a friend, you must be logged in.

The company, which includes the Bosch Lawn and Garden business based at Stowmarket, a member of the EADT/EDP Top100 listing of the 100 largest companies in Suffolk and Norfolk, said overall sales were around 7% higher in the three months to the end of March, although it cautioned that the comparison with 2013 is only approximate due to accounting changes.

After adjusting for adverse exchange rate effects, the increase was roughly 10% and the group, a global provider of technology and services, now expects sales for its current financial year to show growth of 3% to 5% overall.

“We continue to move forward with our traditional business and are opening up new fields of business,” group chairman Volkmar Denner said. “In the connected world, we are benefiting from our broad technological and industrial expertise

“The Bosch automotive technology business sector continued its strong business performance of the previous year, growing impressively in the first quarter of 2014. Bosch also aims to further improve result in 2014.”

Dr Denner, whose responsibilities on the Bosch board of management also include research and development, called for greater political commitment to promoting innovation, adding: “In research and development, Germany and other European countries have to measure up to the world’s leading countries.”

During 2013, Bosch increased its sales by 3.1% to 46.1billion euros.

The reported sales figure takes the group’s exit from crystalline photovoltaics into consideration as well as consolidation effects resulting from changed accounting policies and acquisitions in the previous year. After adjusting for exchange rate effects, sales grew 6.3%.

Excluding the impact from photovoltaics, Bosch reported an earnings margin of 6%, translating into earnings of 2.8bn euros.

0 comments

Comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ipswich Star visitors.


We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Forgotten your password?


Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

ADVERTISEMENT

ADVERTISEMENT

loading...
iwitness24 Your news is our news Facebook Like your local paper Twitter Join the conversation Ipswich Borough Council

ADVERTISEMENT

ADVERTISEMENT