Recurring EBIT (earnings before interest and tax) for the first six months leapt more than 427%, from €13.4m to €70.7m, on revenues of €736m, up 14.8% from €641m in the first half of 2009.

This put the company’s EBIT to revenue ratio at 9.6%, up from 2.1% in the same period last year and well above its medium-term target of 7%.

The Agfa group as a whole recorded a recurring EBIT of €137m on sales of €1.4bn.

Christian Reinaudo (pictured), president and chief executive of Agfa-Gevaert, said: “The strong performance in the first half of this year indicates that our targeted strategies and industry-leading technologies have allowed us to rejoin the path to growth.

“We expect that the combination of organic growth and the effects of our recent strategic moves will yield a full year revenue increase of about €200 million.”

Read the original article at www.printweek.com.

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