KBA Reports Jump in Sheetfed, Web Press Orders

Better operating result but lack of profit contributions
Weak quarterly sales impacted on profit contributions and earnings. Although the gross profit margin climbed from 13.6% twelve months earlier to 21.7% as a result of cost-cutting measures, KBA posted an operating loss for the quarter of €19.4m. This, however, was well below the prior-year figure of €32.7m. Following a small financial loss of €1.9m the group made a pre-tax loss (EBT) of €21.3m, compared to a loss of €35.2m the previous year. After taxes it disclosed a net loss of €20.2m (2009: a loss of €33.2m). Earnings per share also improved to –€1.23 (2009: –€2.03).