The Forbo Group, with worldwide operations in flooring and industry specialties, reports that sales last year went up by 2.3 per cent to reach SFr1.874 billion francs.

The Forbo Group, with worldwide operations in flooring and industry specialties, reports that sales last year went up by 2.3 per cent to reach SFr1.874 billion francs.

A statement from company headquarters in Eglisau near Zurich said Forbo expected a "significant improvement" in group profit over the previous year.

But Forbo said the improved result was before a deduction of SFr70 million for extraordinary valuation adjustments and provisions for restructuring measures announced in December.

Forbo's CEO Werner Kummer announced at the time that the company's reorientation was aimed at enhancing the Group's value by focusing on profitable core businesses.

The company aims to boost sales up to SFr3 billion over the next five years by pushing the pace of internal growth in its strategic businesses and making carefully selected acquisitions.

1999 sales in the flooring division were up by 2.3 per cent to SFr1.090 billion, while the industry specialties division also reported a 2.3 per cent improvement in its result to SFr784 million.

Forbo added that particularly strong growth was recorded in Asia (24.1 per cent) and the Americas (7.4 per cent.)

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