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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Steelcase's 2nd Qtr profit falls 17%

Monday 29 September 2008

Office furniture maker Steelcase Inc. has announced that its fiscal second-quarter profit fell 17 percent as the company restructured, but results beat the company\'s expectations.

Profit for the quarter ended Aug. 29 fell to $31.4 million, or 23 cents per share, from $37.7 million, or 26 cents per share, in the same quarter last year. The latest quarter\'s results include $5.9 million in restructuring costs.

Revenue rose 9 percent to $901.8 million from $825.2 million.

Analysts polled by Thomson Reuters predicted a profit of 22 cents per share on revenue of $865.6 million.

Results were boosted by international sales, which rose 34 percent to $253.2 million.

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