Textile machinery developer Rieter has said it ended 2023 with lower sales revenues than the year before.

The Swiss group will formally present its full-year results for 2023 on March 13, but it said unaudited figures suggested revenues of just over 1.4 billion Swiss francs (CHF). This would represent a fall of 6% year on year.

It said the market remains challenging owing to economic and geopolitical conditions, as well as continuing weak demand. But it said there were “initial signs of a market recovery” in 2024. 

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