Italy's Gefran 2014 operating profit surges 50% y/y

Italian automation systems and components maker Gefran SpA (BIT:GE) said on Tuesday its operating profit soared 50% annually to EUR 6.6 million (USD 7.5m) in 2014.

The company's revenues went up 2.9% to EUR 129.6 million, in line with the guidance provided in November 2014, Gefran said in a statement on its preliminary 2014 figures. The group will review its consolidated full-2014 profit and loss statement on March 12, 2015.

Gefran continues to focus on raising sales in key markets and on cutting costs, CEO Maria Chiara Franceschetti said in the statement.

(EUR 1 = USD 1.139)

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