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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.

Strong growth in turnover and profit for office furnisher Royal Ahrend NV

Tuesday 10 June 2008

In 2007 office furnisher Ahrend realised a consolidated turnover of EUR 269.8 million (2006: EUR 225.3 million). In the past financial year Ahrend realised a growth of nearly 20%, which may be attributed to the sound economic situation as well as to an increased market share in countries important to Ahrend. Ahrend is active in, inter alia, the Benelux countries, Central and Eastern Europe, Germany, the United Kingdom, Spain, Russia, the United States and the United Arab Emirates. In the Netherlands the turnover increased by 18% to EUR 170 million (2006: EUR 145 million). All sectors – Profit, Public Sector, Education, and Care & Welfare – contributed to this growth. Outside the Netherlands the growth could be attributed to, inter alia, TECHO, Ahrend’s substantially improved position on the Central and Eastern European markets, as well as its growth in Belgium and Luxembourg. The Ahrend branches in the United Kingdom, Spain and Germany realised a turnover increase in line with the market developments. In the United States some nice orders were booked as well, although Ahrend felt the influence of the weak dollar there. In the United Arab Emirates Ahrend will intensify the cooperative alliance with its partners in 2008 in order to be able to make a next step in that area. At the end of December 2007 Ahrend took over Veldeman Kantoormeubelen in Hasselt, a Belgian office furnisher with a turnover of EUR 3.7 million (2007). This acquisition is in line with Ahrend’s wish to realise a more finely meshed geographic presence in Europe. In the meantime (2008) Ahrend has expanded its current shareholdings in office furnisher TECHO in the United Kingdom and in Central and Eastern Europe to full ownership. The expansion enabled Ahrend to create – in addition to the Benelux countries – a second domestic market in Central and Eastern Europe, with a substantial growth potential.Royal Ahrend NV’s operating result for 2007 amounted to EUR 22.8 million, as compared to EUR 11.5 million in 2006. The net result for 2007 was EUR 29.5 million, also as a result of non-recurring tax revenues (2006: EUR 6.3 million). The bank debts remained nearly identical at EUR 12 million (2006: EUR 11.9 million), offset by liquid assets in an amount of EUR 17.4 million. The shareholders’ equity increased by EUR 27.6 million to EUR 95.5 million, as a result of which the solvency improved from 49.5% to 53.7%.

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