BELGIUM: Picanol On Track To Double Profits In Fiscal 2002
Belgian weaving machine manufacturer Picanol on Thursday reported a third quarter consolidated net profit of 6.7 million euros. The company said it expects to double its net profit for the full fiscal year and sees a 25 per cent jump in turnover to around 500 million euros. In fiscal 2001 it reported a net profit of 11.6 million euros, and so far in 2002 has generated a consolidated net profit of 16.03 million euros.
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