Miele announce half-year turnover increase and expects continued growth despite Brexit

Good news for the KBB market as the appliance manufacturer Miele announced last week that they have seen a 6.4% increase in turnover for the 2015/16 financial year ending on 30th June 2016, reaching €3.71bn with a €224m rise.

According to the company, sales outside of Germany grew by 6.3% in the last financial year, with “notable gains” reported in the UK, Australia, USA and China. The German market pulled in €1.1bn in sales for Miele, representing an increase of 6.9%.

However, the company's forecast for the current financial year is “reserved but optimistic”, it said, reflecting the “political and economic flash points around the world where an easing of tension is not in sight”.

The group also noted the “dampening effect” that it expects the Brexit vote and aftermath is likely to have on the economy. “Nevertheless, Miele expects turnover, unit sales and market shares to continue to grow, without any further detailed quantification,” the company said.

Lets carrying on spreading the good news!