Jotun Sets Sales Record in '07

Monday, March 24, 2008

Jotun reported that high levels of activity worldwide in shipbuilding, oil and gas projects and a highly active construction industry in the Middle East made 2007 the company’s best year ever. In 2007, the Jotun Group had an operating income of more than $1.7b, which is $211m higher than for 2006. Jotun's profit
 before tax was $151.4m.
"Last year was an absolute high point for Jotun. We are extremely pleased to deliver the best sales and profits in Jotun's history. On the other hand, the strong Norwegian kroner against most currencies has had a
negative affect on sales and profits," said Morten Fon, president and CEO.
In Scandinavia, sales volume increased in 2007, but an increasing number of own-brands in the market and a change in distribution structure in the trade have pressed margins.

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