Agfa expects an improved Q1

News by

02 May 2002

Agfa expects its first-quarter results to show an improvement of margins, following a particularly difficult year and results which clearly reflect this.

But chairman Ludo Verhoeven told the groups AGM last Wednesday (30 April): When looking at our sales in the first months of the year, we cannot find a convincing recovery yet. Sales are stabilising, but its too early to speak of a clear revival.

He said Agfa expected economic growth to pick up in the second half of 2002, especially taking into account the positive effects of Horizon, the restructuring programme it implemented last year (PrintWeek, 27 September 2001).

Agfa appointed Pol Bamelis as its new chairman and Jozef Kornu, Klaus Khn and Udo Oels as board members.

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"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."