Picogiga Announces Very Strong Increase In Turnover Net Profit: 16% Of Turnover
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Courtaboeuf, France. The turnover for the first quarter reached a record FRF 28.2 million ( Euros 4.3 million), an increase of 173% compared to the same period last year and up 12 % compared to the fourth quarter of the previous year. The operating result reaches 28% of turnover, the best ration ever obtained. The consequence is a net profit of FRF 4.5 million (i.e. Euros 0.7 million), corresponding to 16% of the turnover.
Chairman Linh Nuyen says: " This historical quarterly profit which represents two thirds of which of the total past year was gained despite a 24% drop in selling prices. This spectacular result shows clearly that the Picogiga s way to volume production is mastered. "
At the end of March, the backlog increased again and overpass FRF 55 million. The starting during Quarter 2 of a new production line, with a productivity three times more important compared to the previous ones, will allow to turnover to go on increasing strongly. The two other production lines scheduled for June and September, are matching with the expected agenda?
Linh Nuyen as a conclusion: " The mobile phones activity continue to strongly pull Picogiga s growth. We succeeded during Quarter 1 in answering rapidly the acceleration of the demand despite the saturation of our production lines. With an increase production capacity, we shall improve our delivery times for our clients benefit. So, thanks to our mastering of cost reduction, we give satisfaction to our customers and so are generating a spectacular increase in our profits." The Quarter 2 results will be published on July 12.
Contact:
Shareholders information: Tel: 33 1 69 31 61 14
E-mail: picogiga@worldnet.fr
E-mail: picogiga@worldnet.fr
E-mail: picogiga@worldnet.fr
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