Arc International, the French tableware company, has announced annual operating profits of EUR 10 million after four successive years in the red. The surplus is small given revenues of EUR 1.5 billion…
Arc International, the French tableware company, has announced annual operating profits of EUR 10 million after four successive years in the red. The surplus is small given revenues of EUR 1.5 billion, but it was achieved against a background of high energy prices and a weak dollar. The company has also reduced its debt from 4.5 to 2.5 times gross operating profit. A net figure has not been disclosed in order to avoid interference with asset sales in the US; it is known to be in the red, but close to break-even net of non-recurring items. Arc International is beginning to reap the benefits of its investments in emerging markets, but the company has reassured its 9,000 staff France that investment in Europe will match that made elsewhere.