Neopost meet financial expectations
Added: 03/09/2010 Reporter: Peter James
Neopost are sitting pretty today after releasing their second quarter figures. Neopost reported a 2010 Q2 sales growth that was inline with their expectations. Sales across the group are up by almost 7% compared to the same period in 2009, and this has allowed Neopost to keep unchanged their commitment to shareholders to reach an operating margin of over 25% of sales during the year.
Neopost, the world's number-two supplier of mailroom solutions, have achieved these figures despite the current economic climate around the world that has seen Pitney Bowes, their nearest competitor and world number one supplier of mailroom solutions, suffer. In contrast to the Neopost growth figures, Pitney Bowes reported their Q2 figures last month showing a decline of 6% against the same period in 2009.
Growth was however not consistent across the world. Reviewing the released financial figues it is clear that the majority of Neopost's Q2 sales are from North America. Worryingly for the United Kingdom's changes of recovery, Neopost showed a drop in UK sales.
Denis Thiery, Chairman and Chief Executive Officer of Neopost, stated: "As expected, we achieved growth during the second quarter of the year. The solid momentum that Neopost has demonstrated in North America over the last few quarters is continuing. In Europe, its performances differ significantly from one country to another. Overall, sales are in line with the scenario we set out at the start of the year."
Release financial figures showed the majority of sales came from recurring revenue. Neopost's consolidated sales during 2010 Q2 were €243.9 million. The Group generated total sales of €470.9 million 2010 Q1.
