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MARTELA CORPORATION reports growth in 2010

Thursday 17 February 2011

Sales for 2010 amounted to EUR 108.4 million (2009 EUR 95.3), an increase of 13.7 per cent on the previous year. Operating profit for the corresponding period was EUR 1.3 million (2009 EUR 0.8).

The company stated that there were no significant changes in demand for office furniture in their key markets during 2010. They go on to say that the first signs of recovery in office construction are evident, but the impact of this on Martela will be delayed. Measured in terms of floor space, fewer office buildings were completed in Finland in 2010 compared with the previous year (-10%). In the same period, more building permits were issued (+20%) than the previous year and new office building starts were also markedly up on 2009 (+66%).

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