In the first quarter of 2012 the investment company Hal Holding was confronted by a 7.2% decline in turnover to €385m in its other consolidated subsidiaries division. Following adjustments to account for acquisitions, divestments and exchange rate changes, a decline of 3.1% in turnover was recorded. The company considers this decline to be due in the first place to a rather poor development at timber trading business PontMeyer and office furniture manufacturer Koninklijke Ahrend. Specific turnover figures for the individual subsidiaries were not mentioned in the quarterly report, however.
Source:
http://www.euwid-wood-products.com/news/miscellaneous/single/Artikel/decline-in-turnover-at-pontmeyer-and-ahrend.html
