Surteco Are Going to Be at Last Year's Level at Best.

In view of the currently modest business expectations in the furniture industry and the reduced macroeconomic growth arising from the fiscal consolidation course in many industrialised countries, Surteco is working from the assumption that sales in the business year 2013 are going to be at last year’s level at best. Owing to the assortment adjustments in the Strategic Business Unit (SGE) “Paper”, this would equate to minor organic growth. Surteco believes that the slowing that occurred in the pace of general economic activity in September 2012 continued during the first quarter of this year. Although the sharp downturn at the end of last year led to catch-up effects and a brief improvement in receipts of orders in January, demand subsequently fell off again so that first-quarter sales revenue will probably fail to match last year’s level.