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Masterflex announces record earnings for 2004

By Liz White, UT staffGelsenkirchen, Germany-Polyurethane processor Masterflex AG said in its 7 April preliminary results statement that it achieved record earnings again in fiscal 2004. Consolidated net profit for the supplier of polyurethane hoses and medical devices surged almost 86 percent to Euro 6.8 million, against 2003’s figure of Euro 3.7 million. This represents “an excellent net return on sales of 9 percent,” the firm said. Earnings before interest and tax (EBIT) also climbed, by Euro 3.8 million to Euro 11.4 million, an increase of some 50 percent. Masterflex said. Similarly, earnings on ordinary activities rose sharply by almost 60 percent to Euro 10.2 million. Consolidated sales matched the firm’s forecasts, and were up 13.2 percent, to Euro 75.8 million.The group will release its full annual report at the company’s annual press conference on 27 April.As well as making high-tech hoses and medical devices, Masterflex has a third division which develops fuel cells for portable devices, including bicycles and computers. “

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