Steelcase generates profit in the EMEA region again

In the third quarter of its 2016/2017 financial year (28 Feb.), US-American Steelcase generated an operating profit in the EMEA region of US$2.7m, after the previous year had seen a loss of US$14.9m. EMEA turnover decreased by 0.5% to US$135.5m. Turnover in the Americas region in the reporting period, at US$576.7m, remained virtually unchanged, while the operating result declined by almost 20% to US$59.7m. With its operations in the Asia-Pacific region and the Designtex and PolyVision brands, all covered by “Other”, Steelcase showed a fall in turnover of 2.1% to €74.3m, and an operating result which deteriorated by 44% to US$3.1m.

Steelcase’s total turnover in the third quarter remained virtually stable year on year, at US$786.5m, while order receipts showed growth of 3%. The operating result was down by 1.1% to US$54.6m and the net result, at US$41.2m, increased year on year by almost 16%.
The concern’s cumulative figures for the first nine months of the financial year showed decline in turnover of 2.1% to US$2.263bn (March-Nov. 2015: 2.312bn). The operating result was minimally up year on year, at US$149.8m (148.8m), and the net result improved by 6.5% to US$98.8m (92.8m).

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