Krone Reports Explosive Growth
Spelle, August 23, 2011 — A substantial increase in sales is reported by all Krone operations for the fiscal year 2010/2011 (1 Aug - 31 Jul). “Although some numbers sent in from our foreign subsidiaries are not final numbers as yet, the data presently available suggest 1.2 billion euros in revenues, a result that translates into a stunning 77 percent increase over the previous year”, reports Managing Director Bernard Krone.
The Agricultural Machinery division anticipates a 24% growth in sales volume to 405 million euros while Trade and Services business is up nearly 22 percent, passing the 100 million euro mark for the very first time.The Commercial Trailer division generated sales worth 775 million euros, hence achieving the best result within the group. After experiencing a substantial drop in sales in the wake of the financial crisis, the division’s latest performance reflects an increase of nearly 150 percent. “Admittedly, these numbers superficially look impressive. Yet, put in perspective, the current results of Commercial Trailers are just comparable with the division's 2006/2007 results,” explains Bernard Krone.
On the whole, says the company leader, it is down to Krone’s innovative product line, the sound financial situation and an outstanding customer loyalty that they were able to achieve this impressive result for fiscal 2010/2011. The audited balance sheet is going to be available in Krone’s Annual Report 2010/2011 to be published within the next few weeks.