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Distributor ALSO Group says it increases profits in the first quarter 2016 by 18.5%, with a record sales level.
Profitability rose faster than sales as margins improved. "We improved our earnings quality continuously," said Gustavo Möller-Hergt, CEO of ALSO Holding AG.
Net income for the first quarter 2016 was €14.1m up from €11.9m in the previous year (+18.5%). Profit before tax (EBT) rose in the same period to €20.3m. Sales were up 2.6% in the first quarter of 2016 to €1.916bn.
The company says it again outperformed the overall market, with a slight decline in sales in the Central European region countered by a much improved business in Northern/Eastern Europe.
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