Dutch holding company ERIKS Group reported sales for the first quarter 2009 were € 270 million (US$358 million), up 10.2% from the first quarter of 2008. All positive growth can be attributed to acquisitions realized in 2008. Organic sales contributed a negative 14.6%. Overall demand for ERIKS’ products declined in the first quarter.
Cost savings program are currently being executed within the entire ERIKS group. This will result in a cost cutback of approximately € 20 million on an annual basis.
ERIKS Group Sales Up 10.2% In 1Q
Dutch holding company ERIKS Group reported sales for the first quarter 2009 were € 270 million (US$358 million), up 10.2% from the first quarter of 2008. All positive growth can be attributed to acquisitions realized in 2008. Organic sales contributed a negative 14.6%. Overall demand for ERIKS' products declined in the first quarter.
Cost savings program are currently being executed within the entire ERIKS group. This will result in a cost cutback of approximately € 20 million on an annual ...
Cost savings program are currently being executed within the entire ERIKS group. This will result in a cost cutback of approximately € 20 million on an annual ...
Share this article
- Filed In: Top Distributor Sectors, Subscriber Only, News, Free
About the Author
Recommended Reading
Leave a Reply
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.