Ekornes Has Strong 2nd Quarter

August 17, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on August 18, 2010

Norwegian seating manufacturer Ekornes reported second-quarter 2010 revenue of NOK 1.5 billion, a 19 percent increase over the prior-year period.

Profit before tax for the second quarter this year increased by 72.8 percent to NOK 296 million.

New orders rose 10 percent in the second quarter compared with the same three months in 2010.

In spite of weak markets, Ekornes CEO Oyvind Torlen is satisfied with the company's overall performance.

"It shows the strength of our marketing concept, products, brand and dealer network," he said.

Ekornes has 100 additional employees now compared to one year ago, bringing its total to 1,600 worldwide, of which 1,400 work at the company's six factories in Norway.

"I'm impressed at the effort put in by our employees in all parts of the production," Torlen said, adding that employees could expect an annual bonus of 86 percent of monthly salary based on this result.