Tornos beats 2006 sales growth forecast on back of new products

Gross sales grew to CHF 250.5 million with net profit of CHF 17.2 million, up 34.4 per cent on the previous year’s figure, reports the company (1.00 CHF = £0.42). One of the cornerstones of the Group's strategy is to offer innovative products, with research and development activities given priority since 2004 with the first results of this policy seen in 2005 with several new product launches, including a new line of single-spindle products known as 'Sigma' (pictured). The success of this broadening of the product range is confirmed by the commercial results reported in 2006, says the company. Several new machines for both its Sigma line and thetraditional Deco and Multideco ranges will be presented in 2007 at the European machine tool fair (EMO) to be held in Hanover in September. Asia now accounts for nearly 16 per cent of the company's business, compared with less than 2 per cent only three years ago. Very high growth figures were posted in Asia (+ 94 per cent), while business in Europe also developed well (+18 per cent). Only the Americas registered a negative trend, with sales decreasing by 21 per cent. Tornos expects the first half year of 2007 to be lower than the second in terms of invoicing and, if the overall economic context proves similar to that of 2006, the company expects to post an increase in sales of around 10 per cent in 2007.