SWITZERLAND: Rieter Posts FY Profit Plunge
Swiss textile machinery manufacturer Rieter Holding AG on Thursday posted a sharp fall in 2002 net profit amid sliding sales. The firm, which also makes car parts, reported a net profit of 69 million Swiss francs ($49.7m) versus 93.2 million francs in the year-ago period as sales fell to 2.98 billion francs ($2.14bn) from 3.17 billion francs in 2001.
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