First half results for kitchen manufacturer Alno AG

GERMANY (Notifix).- Alno AG, one of the world's largest manufacturers of kitchens, has published results for the first half of 2011. Despite the kitchen market's registered

growth, Alno's revenue and earnings trends are still burdened by the parallel production of the new and old Wellmann range at the company's site in Enger. The Company informed that these production problems have been solved and no further losses are expected to arise from these problems from September onwards. In the first six months of the fiscal year, consolidated revenue fell by 4.7% to EUR 222.7 million as opposed to last year's figure (EUR 233.7 million). Domestic revenue declined by 3.7% to EUR 160.8 million. Due to the liquidation of five foreign subsidiaries and their reorganization into sales units in the second half of 2010, revenue generated outside Germany dropped by 7.3% to EUR 61.9 million. As a result, the share of foreign sales in total sales (the export ratio) fell from 28.6% to 27.8%.

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