Stork earnings better than forecast

Industrial group Stork, under siege from corporate raiders who want to split the company up, booked higher than expected net profit in the third quarter of 2006. Net profit reached €25 mln, compared with €18 mln in the year-earlier period.

This was partially due to lower taxes. Turnover fell by €1 mln to €458 mln. Chairman Sjoerd Vollebregt told the Financieele Dagblad that the company’s customers were following developments in the battle with hedge funds with interest and some concern. But no clients have dumped the company and there are no signs any are planning to do so, he was reported as saying.

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