Rieter revenues rise by 24% in first six months
19/07/2018
Rieter experienced a decline in sales over the period in China, falling by 1% to CHF 82.6 million. The Swiss company said this was, in part, because a subsidy programme to help develop the textile industry in the western province of Xinjiang is now being phased out.
In India, sales fell more steeply, by 36% to CHF 60.2 million, but sales in Turkey increased by 19% to CHF 58.3 million.
Excluding these three major markets, Rieter achieved sales of just over CHF 200 million in sales revenues came from the rest of Asia. It said development in Uzbekistan, Bangladesh, Vietnam and Indonesia had been particularly positive.
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