INTERVIEW-Steelcase sees revenue, profit growth beginning FY11

* Seeing signs of recovery in some markets - CFO

* International markets to play larger role in the future

* Not to pursue acquisitions aggressively By A.Ananthalakshmi

BANGALORE, Sept 24 (Reuters) - Steelcase Inc (SCS.N), the world's largest office furniture maker, sees signs of recovery in some of its markets, and expects revenue and earnings growth from next fiscal year, its finance chief said.

"We have reached the bottom faster than the previous recession. Next year is a recovery year," CFO David Sylvester told Reuters in an interview, adding that the volatility in the market is decreasing.

Steelcase had posted losses and seen revenue fall about 30 percent in the last couple of quarters, as the company struggled to sell its products in a weak demand environment.

Sylvester said the company is seeing signs of improving stability in the financial vertical of its office market, and that other verticals will follow in due course as the broader economy recovers.

The 97-year old company makes seating, desking, storage and lighting products and serves the financial, healthcare, higher education and bioscience markets.

The company has cut jobs, reduced its dividend and consolidated some of its manufacturing facilities over the past year, to better align its business with sluggish demand.

"We believe we are going to come out of this recession with a little extra oomph in our step so to speak," Sylvester said.

Sylvester said Steelcase is expecting its international markets, which accounted for about 29 percent of its fiscal 2009 revenue, to play a larger role in the future.

Steelcase has the maximum exposure to international markets among its peers Haworth Inc, Herman Miller (MLHR.O), Knoll (KNL.N) and HNI Corp (HNI.N).

He said Latin America, Middle East and Asia-Pacific are showing increasing levels of activity towards the latter part of the calendar year.

He said the company will continue to invest in emerging markets, but will not pursue acquisitions aggressively.

The Grand Rapids, Michigan-based company made its last acquisition in October 2007, spending about $13.3 million to buy Chinese office furniture maker Ultra Group. Sylvester said Steelcase, which has about 13,000 employees, is looking to grab market share from the smaller players in the industry rather than the bigger ones.

He said Steelcase, along with the four other major players, control about 60 percent of the total market share in the United States, and that a lot of this is traded between these companies.