Carel sales up nearly 25%

ITALY: Controls manufacturer Carel has recorded revenues of €161m in the first three months of the year, an increase of 24.8% on the same period last year. 

This is the ninth consecutive quarter that the Padua-based company has achieved double-digit organic growth.

Revenues from the air conditioning segment grew 39.6%, while the refrigeration segment slowed down by 0.5%. 

Net profit increased 13.2% to €18.5m.