Manutan's sales fluctuate significantly across Europe
| 17 July, 2014
Sales at European reseller Manutan during the last quarter (April-June) were boosted by the acquisitions of Ikaros in Sweden and Ironmongerydirect Britain. However, excluding these new businesses, turnover was down by 7.9% with significant differences across Europe.
France and Southern Europe, which represent 56% of total turnover, recorded a decline of 12.6% during the quarter. The Western region (UK and Ireland) saw positive growth with sales increasing by 6.5%, excluding Ironmongerydirect. Eastern Europe was up 17.3%, while the Centre region (mainly Germany, Belgium and Switzerland) was down 1%.
Manutan does not expect any significant change in these trends by the end of the year. It added that new acquisitions are possible due to the company’s solid financial structure.