Stork to focus on takeovers in 2007

Engineering group Stork is to focus on boosting growth through acquisitions in 2007. The €75m originally set aside for a share buy-back will now be used for takeovers, the company said.

Stork booked an 18% increase in net profit to €25m in the final quarter of 2006 but operating profit fell 66% to €29m due to delays on the Airbus 380 and NH-90 helicopter projects. Turnover was up 10% to €495m.

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