Rieter sales up, but points to “subdued” orders - sportstextiles: Lea SportsTextiles

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Rieter sales up, but points to “subdued” orders for new machines

24/07/2015
Textile machinery manufacturer Rieter has reported an increase in sales of 6% in the first half of 2015 compared to the same period in 2014. The Swiss technology provider achieved sales of 553.9 million Swiss francs in the six-month period this year. Net profit was up by more than 100% year on year at 29.1 million Swiss francs.

Rieter said spinning mills have performed “at a healthy level” in many key markets and that this has had a positive effect on order intake and sales for its after-sales and components business groups, but it said “subdued investment” in new machines was also “clearly apparent”. This trend is because of spinning mills’ low margins and to global currency turbulence, the company said.

Adding more detail, it said customers in India were continuing to invest “at a solid level”, while the market in China remains “subdued”. It also said it had suffered a significant drop in orders in Turkey in particular.


Related stories:

Rieter moves into “adjacent fields” with new acquisition 03/07/2017
Rieter’s orders on the increase 21/07/2016
Job losses in Switzerland as Rieter cements position in Asia 16/03/2016
Textile companies ‘reluctant to invest’ in machinery 01/02/2016
Rieter warns of low orders but concentrates on upgrades for spinners 13/11/2015
TÜV SÜD enters textiles consultancy with Indian venture 18/09/2015

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