Burckhardt Compression has revised its 2011 fiscal forecast due to the strength of the Swiss franc.
Burckhardt Compression now expects fiscal year 2011 sales to amount to approximately CHF 330 million with an EBIT margin near the middle of its targeted long-term range of 10% to 20%.
The firm has attested that guidance was revised due to, “the tremendous appreciation of the Swiss franc over the past several months.”
In a corporate press release the firm elaborated: “The highly volatile fluctuations on the currency front in the current fiscal year will leave their mark on the company’s results for fiscal year 2011 (closing 31st March 2012).”
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