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[August 2007]
Granitifiandre Consolidated Sales Above Expectations
Consolidated sales for the Granitifiandre Group were up 21.35% in April year-on-year. The order backlog at the end of May of the German subsidiary Porcelaingres more than doubled to over €8 million with an average price increase of 20%, while the order backlog of the American subsidiary StonePeak was around US$11 million.These are the main financial highlights of Granitifiandre – a world leader in the production and distribution of top of the range vitrified stoneware porcelain slabs listed on the STAR section of the Italian Stock Exchange – relating to the group in April. The results are particularly positive in view of the 2007 Budget and 2008/2009 Business Plan approved in February by group management and which provides for future growth in revenues and margins.
The stated objectives will be achieved, said the company, thanks to the positive effects of the international expansion plan completed with success in recent years through investing the resources from the Stock Exchange placement in new factories in the USA and Germany.
The factories of Porcelaingres at Vetschau (Germany), which serves the Central and Eastern European markets, and at Crossville (TN, USA), which serves the North American market through the group company StonePeak, have been functioning at full operational levels for some time.
www.granitifiandre.com
ENDS