Manufacturing Industry
EXEL OYJ'S INTERIM FINANCIAL REPORT JANUARY 1 TO SEPTEMBER 30, 2002.
Advanced Materials & Composites News, November, 2002
Summary - Net sales increased by 4% to EUR 38.0 (36.7 in 2001) million during January-September 2002 - Net sales in the Industry division increased, while the Sport division decreased by 5% - Published cost-saving measures improve profitability as planned - Operating profit was EUR 2.9 (4.3) million during January-September 2002, EUR 1.3 (1.5) million in the third quarter Operating environment No major changes have taken place in the market situation in the third quarter of the year.
Competition is hard and Exel's customers are still uncertain about the future. This situation is expected to prevail at least during the first half of 2003. This is also reflected in the postponement of new projects, even though new customer applications and R&D projects are being...
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