The result, which covers the period up to 31 March 2009, was in line with expectations, caused by a slump in demand for sheetfed presses, resulting in revenues for the division down by almost half to €76.8m (A$136m) compared with the previous quarter.

Sales in the web division experienced a 9 per cent decline.

Overall continuing subdued demand in the German manufacturer’s core European markets exacerbated the decline in sales.

KBA has instigated a cost-cutting drive, which will result in job losses and savings of “several hundred million euros”.

Read the original article at www.printweek.com.

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