The Bossard Group, Switzerland, reported first quarter sales of CHF 197.9 million (US$196.3 million), an increase 16.1 percent year-over-year. As reported in local currencies, sales grew 16.8 percent.
In Europe sales rose 10.2 percent to CHF 114.2 million (US$113.3), a gain of 11.7 percent in local currency. With this performance, Bossard achieved one of the best quarterly results in recent years. Sales growth in Europe varied from country to country, but was evident in all markets. This is also true for Switzerland, where weak demand had persisted after the appreciation of the Swiss franc in early 2015.
In America, sales were CHF 56.9 million (US$56.4 million), up 28.4 percent compared to last year in local currency. These figures include the acquisition of the U.S. company Arnold Industries, which was consolidated from the fourth quarter of 2016. In Asia, sales were CHF 26.8 million (US$26.6 million), up 16.5 percent.
