Agfa-Gevaert: profit falls in second quarter.
(CercleFinance.com) - Belgian imaging technology group Agfa-Gevaert reported on Wednesday a 26% fall in second-quarter operating profit, due to weak demand - both at its graphics and healthcare businesses.
The company, which makes imaging systems for hospitals, and printers for publishers, said recurring EBIT fell to 47 million euros in the past quarter, against 64 million euros a year ago.
Total revenue decreased by 3.6% to 622 million euros, with the Agfa healthcare business division hit by the restructuring of the hardcopy distribution channels in China.
The Agfa graphics division also saw revenue decline, falling 3.7% to 309 million euros.
In a statement, Agfa-Gevaert said it plans to study how to organise its healthcare IT activities into a stand-alone legal entity structure and organisation within the group.
The Belgian company thinks the healthcare unit would then be able to increase its focus on the large and attractive markets, with it then being better positioned to pursue growth and profitability.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The company, which makes imaging systems for hospitals, and printers for publishers, said recurring EBIT fell to 47 million euros in the past quarter, against 64 million euros a year ago.
Total revenue decreased by 3.6% to 622 million euros, with the Agfa healthcare business division hit by the restructuring of the hardcopy distribution channels in China.
The Agfa graphics division also saw revenue decline, falling 3.7% to 309 million euros.
In a statement, Agfa-Gevaert said it plans to study how to organise its healthcare IT activities into a stand-alone legal entity structure and organisation within the group.
The Belgian company thinks the healthcare unit would then be able to increase its focus on the large and attractive markets, with it then being better positioned to pursue growth and profitability.
Copyright (c) 2017 CercleFinance.com. All rights reserved.