Grundfos posts strong interim gains in sales and profits

The interim Grundfos turnover is 12% up on the first six months of 2009 and is at the same level as in 2008 which was a record year for the pump manufacturer. This year, Grundfos turnover has increased in all sales regions, with particularly strong gains in India, Russia and China. Profit before tax in the first six months of 2010 reached €103 million, up from €11.5 million at the mid point last year.

Grundfos Group president Carsten Bjerg said that the interim result was extremely satisfactory.

"Like so many others we were hit by the financial crisis in 2009 and we lost turnover. However, we managed to gain a profit after all. The wheels are turning again, little by little, around the world but we are aware of the fact that it may be a temporary trend. Therefore we are hedging against future recessions to be strong in case world economy will go down once again. This attitude ensures that we prepare ourselves for increasing business. We are accelerating product development to be able to introduce new, innovative solutions in due course," said Bjerg.