Higher profit at Voegele.

Fonction Financial News

Voegele, a unit of Charles Vogele AG, reported an increase in full-year net and operating profit, even though sales declined.

Operating profit stood at CHF 99.7 million as compared to 97.2 million in 2002. The operating results (EBITDA) increased to CHF 171.9 million from 165.4 million.

Group earnings more than doubled to CHF 37.5 million from 15.9 million.

However, sales, came in at CHF 1,415 million, down 5.6 per cent from the previous year's 1,499 million.

Gross profit was at CHF 825.7 million, down slightly from the...

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