9 July 1998: The new chairman at German door and window manufacturer Weru AG, Walter Had, said he is hoping to maintain turnover and profits at last year“s level in 1998, according to a rcent press r…
9 July 1998: The new chairman at German door and window manufacturer Weru AG, Walter Had, said he is hoping to maintain turnover and profits at last year“s level in 1998, according to a rcent press report. Had recently replaced Juergen Bockstette as the head of the company which is 88.6%-owned by the British Caradon group. Last year, turnover was DM 402 million (DM 453 million) and ordinary operating profits were DM 30.2 million (DM 31.5 million). Had rejected speculation that Bockstette had departed as a result of the decline in turnover, saying it was for personal reasons. Had said that the company planned to operate more aggressively on the German market. He said that in the past Weru had limited itself too much to the role of observer. According to financial director Daniel Dayan, acquisitions are a subject for discussion but are unlikely this year. Weru plans to lift the proportion of turnover generated abroad from the current 11.6% to 25% by 2001, Had said. Its position in Poland, Hungary, Austria, Switzerland and the Netherlands is also to be expanded. News that the value of shares based on earnings potential is DM 675.80 did not affect the market price. This does not include the DM 174 bonus dividend to be paid on 25 June. This year the share price fluctuated between DM 680 and DM 1,230.