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Gurit sales fall 34% in first half, Ebitda plunges 90%

7:52 AM MDT | August 23, 2013 | Michael Ravenscroft

Gurit (Zürich) says its operating profit in the first half of 2013 shrank to 0.6 million Swiss francs ($0.65 million), compared with a "strong" operating profit of SF17.2 million in the corresponding period in 2012, a fall of 97%. The operating profit in first-half 2013 included a one-time impairment charge of net SF2.9 million. Gurit states that it made a loss in the period of SF2.4 million, after an income tax exemption of SF2.5 million. Ebitda for the first six months of 2013 declined to SF1.7 million, versus a "strong" SF16.8 million...

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