Gelsenkirchen, Germany - Masterflex AG has posted a 41 percent surge in revenue for the first half of this year and a 12 percent rise in earnings before interest and taxes (EBIT).
The German speciality plastics processor recorded half-year sales of €55.1 million ($70.4 million) and EBIT of €5.8 million, putting the results down to the success of its products.
On the back of the positive figures, Masterflex forecast a 20 to 30 percent boost in full-year sales and a 10 to 20 percent rise in EBIT.
First-half revenues at the company's high-tech polyurethane hose systems division rose by 15 percent to €10.1 million and EBIT rose by 7 percent to €4.4 million.
Masterflex's medical technology division reported EBIT of €57 000 and sales of €9 million, the mobile office systems unit posted EBIT of €1.2 million and sales of €16.9 million and the advanced material design business had EBIT of €498 000 and sales of €9 million.