The Turbon Group has announced a better than expected result for Q4 and overall 2009 earnings, with several one-off boosts countering the loss of sales with their formerly largest account, Corporate Express.
New sales and customers, currency gains and the sale of trademarks resulted in a €1.25 million boost in earnings.
They still managed sales of €17 million with CE for 2009, but this was down from nearly €29 in 2008, lowering their overall sales by 12.5 percent.
Turbon announced an end to its supply deal with CE in early 2009 after CE was taken over by Staples, and no new sales are planned with them for 2010.
Despite this setback Turbon remains stable, with planned profits of £3 million for 2010.
They will be holding a supervisory board meeting on 21 April to resolve 2009 financial matters, and a full financial report will be published on the www.turbon.de website on 22 April.