TECHO increased its sales last year despite the crisis

PRAGUE, 19th February 2009 – in 2008 TECHO group achieved sales of 1.27 billion CZK. Compared to the previous year this represents an increase of seven per cent. The sales increased despite the unfavourable exchange rates with respect to the major export market of Great Britain and the economic crisis which took effect during the last quarter of 2008.

The overall net operating profit of the parent company for the financial year 2008 was 90.2 million CZK. In comparison with 2007 this represents a 17.3% increase. The total profit also includes a dividend received from a subsidiary and the sale of an ownership interest in Techo UK.

„ The slow down of the world economy and the start of the recession in the Eurozone and Central and Eastern Europe is reflected in the financial results for last year. Lower profit was also caused by the strengthening of the Czech crown against the EUR and GBP. Despite the negative economic developments, the company was able to optimise the level of its income and overheads, particularly with regards to the predictions of further negative economic development,“ commented Jiří Kejval, Managing Director of TECHO.

According to the company’s long-term strategy, its key markets are the countries of Central and Eastern Europe. TECHO will continue its expansion into these regions because it is here that the company sees the greatest opportunity for its further growth. „We will strive to strengthen our position in these markets and also move into new markets such as Russia, Georgia, Ukraine and the countries of the former Yugoslavia,“ concluded Jan Petrák, Strategic Development Manager of TECHO.

TECHO, a.s. is the leading company providing comprehensive services in the area of supplying commercial interiors in Central and Eastern Europe and is also a major producer of office furniture in the Czech Republic. TECHO offers the most effective solutions for the new office environment while creating an optimal atmosphere for dynamic companies. Its clients include major banks, financial institutions, international companies and government organisations.

For further information please contact:

Stance Communications, s.r.o.
Hana Šimůnková
Tel: +420 224 810 809
GSM: +420 724 527 667
E-mail: hana.simunkova@stance.cz