Total sales fell 31 per cent to €452.8 million ($A776.9m), with sheetfed sales down 39 per cent to €189.3m ($A324.8m), resulting in a pre-tax loss of €47.4m ($A81.3m) compared to a profit of €2.4m in the first half of 2008.

However, KBA said that there was cause for optimism after the pre-tax loss fell by two-thirds in the second quarter of the year, while the company also experienced a “jump” in orders for sheetfed presses.

President and chief executive Helge Hansen (pictured) said that, if sales and personnel costs were maintained, the group would improve its performance in the third quarter and make a profit in the fourth.

Last week, rival Heildeberg announced that it had recorded a €63m operating loss during its first quarter to June 2009.

Read the original article at www.printweek.com.

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