UPDATE 1-Agfa profit down as printing customers feel pinch

Tue May 14, 2013 2:24am EDT

Related Topics

* Group core profit down 4.7 pct to 41 mln euros

* Graphics unit profit down 21.8 pct (Adds details on healthcare unit)

BRUSSELS May 14 (Reuters) - Belgian imaging group Agfa-Gevaert reported lower profits in the first quarter of 2013, as businesses spent less on printed advertising and customers postponed investments.

Core profit in the group's Graphics unit, which makes plates for industrial printers, fell 21.8 percent in the first quarter.

Even industrial inkjet printing, traditionally a growth engine for the unit, had a poor start to the year because of the uncertain economic situation, Agfa said.

At its HealthCare unit, core profit decreased by 15 percent as the group awaited regulatory approval for new digital X-ray products.

This was partially offset by a very strong result at Agfa's Specialty Products unit, which makes high-end products for printing and photography applications, where the group managed to cut costs.

Overall, recurring core profit fell 4.7 percent in the first quarter to 41 million euros. (Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)

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