Pump manufacturer Grundfos has reported a small profit for the first half of 2009 despite an 11% decline in turnover.
The Danish pump company delivered turnover of DKK8.2 billion and profit before tax of DKK87 million in the six months to 30 June 2009. At last year’s mid-point, Grundfos had sales of DKK9.2 billion and profit before tax of DKK464 million.
Grundfos Group president Carsten Bjerg said that under the present circumstances the result is acceptable. “As many others we have been hit by the general economic recession in connection with the global financial crisis. But by means of targeted and careful efforts in the whole group we have succeeded in getting through the crisis in a reasonable way. Of course, profit is far from the group’s long-term aims, and although our profit usually is higher in the second half year than in the first half year, we do not expect to reach the growth results of previous years. However, I am glad that the decisions we took at the beginning of crisis have been effective,” said Grundfos’s Bjerg.