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Georg Fischer: Piping systems unit reports operating profit for 2009

The GF Piping Systems unit of Georg Fischer (GF, Schaffhausen / Switzerland; www.georgfischer.com) has reported an operating profit (EBIT) before special charges of CHF 80m (EUR 55m) in 2009 compared with CHF 122m in 2008. Sales were CHF 1.07 bn, 13% down on 2008. The company said operating profit had improved significantly in the second half of the year thanks mainly to cost-cutting measures.

Overall, GF reported an operating loss before special charges of CHF 58m, compared with a profit of CHF 227m in 2008, on sales down 35% year-on-year at CHF 2.9 bn.

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