Amtel-Vredestein Sees Sales Boost, Net Losses

Amtel - Vredestein reported that it exceeded its 2007 sales target but expected to show a loss for the year.


Revenue increased 22% to $997.4 million in 2007, A-V reported. A-V said it would show an operational profit for the year, but would post a loss on a consolidated basis thanks to the poor performance of its AV-TO retail and wholesale business and growing interest costs.

The company borrowed heavily to fund acquisitions, and posted a net loss of $33.5 million in the first half of 2007.

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