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Brammer Reports Profits Spike 53

Release time : 2015-06-15 13:47:43
Brammer plc announced profits were up 53% in the most recent quarter, reaching ¡ê11 million. Brammer is generally considered Europe's leading distributor of bearings and power transmission; in many countries, it is the largest distributor with the most locations and sales. The company has been growing aggressively, both organically and through acquisitions. Sales for the first six months of 2008 were up 33% to ¡ê241 million; 11% was due to organic growth, 10% from acquisitions, and 12% from currency exchange rate conversions. Organic sales growth is focusing on key segments -- Brammer disclosed new customers include Aunt Bessie's, Catalent, Coca Cola Enterprises, DS Smith, and Kautex Textron. On the acquisitions side of sales growth, recent acquisitions include Poland's Fin SA, CBS Rotary Power in the UK, and Tecnoforniture srl in Italy, and Aandrijvingen Ramaekers NV in Belgium.