Kahrs Group (Malmö, Sweden) announced “strong profitability” in its 2017 year-end report released this past week with a consolidated profit of $10.7 million USD ($86 million SEK).
Operating profit (EBIT) for the period was $18 million ($148 million SEK).
From January to December, net sales climbed 6 percent, totaling $384,767 ($3,072 million SEK), up from $ 362,582 ($2,894 million SEK), with an organic sales growth of 5 percent.
President and CEO Christer Persson said in a statement that the company strengthened its competitive positions in several of its markets.
“We launched an array of important initiatives over the course of the year to promote continued positive growth,” he said.
Some of Kahrs Group’s major markets include Sweden, Finland, Norway and Russia, according to the company, with footholds in the United Kingdom and German markets as well. The company’s fourth quarter net sales (October to December) were $96. 3 million (769 million SEK), a jump of 4 percent compared to the same period in 2016, with the Nordic region showing some of the strongest sales for the company in the final quarter.
