Beijer Ref sales grow 13.2%
SWEDEN: Refrigeration wholesaler Beijer Ref has returned fourth quarter 2015 sales growth of 13.2% and operating profit improvement of 15.9% compared with the previous year.
The quarter’s sales increase to SEK2,026.6m (€213.57m) for the fourth quarter was largely due to acquisitions. Adjusted for exchange rate fluctuations and acquisitions, the organic change in sales was said to be 4%.
Sales increased for the calendar year by 16.3% to SEK 8,360.6m (approx €881m) – an organic increase of 4%.
In addition to the acquisitions, the quarter’s sales increase were said to be mainly due to strong sales in Southern Europe and Africa, and to the distribution of Toshiba’s air conditioning products. Beijer Ref signed an agreement with Carrier in January giving it exclusive rights to distribute Carrier’s DX product series within the comfort-cooling segment and to all pertaining service of these products in Europe.