PROFITS UP AT ITALIAN SORIN BIOMEDICA IN 1991
Sorin Biomedica made net profits in 1991 of 12.3 billion lire ($9.9 billion), up from 11 billion lire in the previous year. Operating profit climbed to 34.2 billion lire ($27.6 billion, an increase of 24.8%. Sales were reported to have increased 16.6% to 205.5 billion lire.
The company, which is part of the space, chemicals and defence group Snia and is itself controlled by the Italian car manufacturer Fiat, spent 11 billion lire on investment and 25 billion lire on research and development, around 12% of turnover.
At consolidated group level, Sorin Biomedica reported turnover for 1991 of 440.8 billion lire, up 24% on 1990 results. Sales abroad accounted for 46% of the group's overall turnover. Its operating profit reached 65.3 billion lire, which is a hefty increase from 49.7 billion lire the previous year, and amounting to 15% of sales.
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