Car parts maker Beru has posted a 16.4% increase in full-year revenue, just as the market had been expecting, and forecast another 10% rise this year thanks to full order books.
Following an acquisition and adjustments to comply with international accounting standards, Beru said that sales during its 2003/2004 business year rose to $US429 million, Reuters reported.
Factoring out the acquisition of a spark plug business and a change in accounting methods to include its Italian subsidiary, Beru’s sales rose to €304.5 million euros from €303.1 million on a like-for-like basis, the news agency said.
Reuters noted that Beru has set itself a goal for organic sales growth, excluding acquisitions, of 10% for the current business year and expects operating profit to increase by at least as much.
“Due to numerous new product startups and the growing popularity of diesel vehicles, Beru has full order books,” the company said in a statement of preliminary results for its fiscal year, which ended in March, cited by Reuters.