Efficiency drive boosts income

Marcolin has reported a 4.4 per cent increase in total sales for the first quarter of 2008 and a doubling of net income to €4.8m, up from €2.4m for that period in 2007.

Marcolin's consolidated sales for the quarter to March 31 2008 increased by 4.4 per cent at actual exchange rates, at €56m.

The company also noted that the management's efforts at boosting efficiency throughout the group had had an effect on the results, including at the subsidiary Cébé which has been completely overhauled.

However, net debt increased by €2.7m from 31 December 2007 to €38.9m, due largely to an increase in working capital.