SAF-Holland reports significant sales, profitability increases

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SAF-Holland S.A., a supplier for the global truck and trailer industry, says it expects significant sales growth in the current fiscal year, and that earnings have been influenced positively by growing worldwide sales, worldwide rising demand and its own efficiency improvements. Adjusted EBIT increased in the first half of the year, and in the second quarter, adjusted EBIT doubled compared to the previous quarter, while sales increased by 29.4 percent from April to June. First-half sales are up 34.8 percent

“SAF-Holland can look back on a pleasing business development in the first half of 2010,” says Rudi Ludwig, chief executive officer. “The second quarter in particular gives us a positive outlook for the rest of the year. We notice both the continuously rising demand and the positive effects of cost-saving measures initiated in the past 18 months. As previously communicated, SAF-Holland is benefitting tremendously from the economic upswing and the corresponding increase in demand for transportation services. This trend will continue.”