Belgium: Etex's sales revenue has fallen by 2.8% year-on-year to Euro1.48bn in the first half of 2016 from Euro1.52bn in the same period in 2015. However, on a like-for-like basis the group said that its revenue rose by 2.6% when exchange rates and scope were taken into account. Its profit fell by 12% to Euro55m from Euro63m.
The group reported that markets in Germany and France remain weak due to manufacturing capacity being downsized. In Latin American countries growth was realised with the exception of Brazil. The profitability of this growth was under pressure from exchange rates and increased competition.
