20.11.2007

Cramo up 23%

Cramo the Finnish based renal company made up of Cramo and RK has announced first nine months revenues up by over 23 percent to €353 million.

Operating income at the business climbed 42 percent to €66.7 million, while pretax profits jumped by 50 percent to €55.3 million.

The company claims that if sales of the Dutch business, that was divested in April this year, are excluded the revenue growth is over 26 percent.

Cramo says that sales were boosted by favourable market conditions and higher rental equipment penetration leading to improving rental rates and utilisation.

Capital expenditure at the company was €125 million during the period, almost 50 percent higher than at the same time last year. The company says that it will need to continue to increase its capital expenditure in 2008.

Cramo is forecasting a further 18 percent growth in revenues for 2008.