Stuttgart’s Lapp Group on Course for Continued Growth

The Stuttgart, Germany-based Lapp Group is back on track for continued growth. The figures presented today for the 2009/2010 financial year (which runs from 1 October to 30 September) were overwhelmingly positive. As such, the world’s leading supplier of integrated wire, cabling and connector products and solutions has emerged strongly from the financial and economic crisis, and is set for continued profitable growth. Andreas Lapp, the chairman of the board of Lapp Holding AG comments: “During the second half of the financial year, we overcame the crisis for good and were able to record significant growth. Provided the economic upturn continues, this financial year should see us achieve the same excellent results recorded in the year prior to the crisis.”  
During the 2009/2010 financial year, consolidated sales across the group rose by 25 per cent, to almost 633 million euros (compared to 508 million euros the previous year). Actual sales rose by 13 per cent, with the remaining 12 per cent accounted for by the steep rise in copper prices. As is the standard practice in the industry, the increase in the cost of copper is passed on directly to the customer. The number of staff worldwide increased from 2,600 to 2,800, while earnings before tax rose by 10.6 million, to 45.7 million euros.