The company announced a lowering of figures ahead of their half-yearly statement.
The half-year figures are expected to show lower figures than previously forecast. Turbon group sales in the first half of 2017 amounted to €48.4 million ($57.09 million) compared to €50.3 million ($59.34 million) in the same period of the previous year. The profit before tax in the comparative period of the previous year was still €3.5 million ($4.1 million).
Turbon expects the 2017 yearly Group’s turnover to be roughly the same level as the previous year at €95 to €100 million ($112 to $117 million).
Core business sales (laser cartridges) continues in a “challenging market environment” in both the US and European markets and missed expectations, but Turbon says that the new sales and diversification strategy ensured that overall turnover is stable. For the year 2018 Turbon expect a continuation of both trends.
Following an accounting review of ILG a one-off depreciation charge of €2 million ($2.35 million) be added to the 2017 accounts.
Turbon is continuing its streamlining and diversification strategy and expects this to be completed during 2017 with a small positive result.
Looking forward to 2018, Turbon anticipates that all measures should have a positive impact on the business and show positive cash flow. Turbon are forecasting 2018 profits before taxes in excess of €4.0 million ($4.71 million)
The detailed interim report for the first half year 2017 will be published on 8 September.