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Belgium's IPTE posts limited rise in Q1 sales

Thu May 15, 2008 12:02pm EDT

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BRUSSELS, May 15 (Reuters) - Belgian electronics company IPTE (IPTE.BR) reported on Thursday a limited rise in first-quarter sales, below the yearly gain of up to 10 percent that it described as a possibility in February.

Sales rose about 5 percent to 65.5 million euros ($101.5 million) compared with 62.4 million euros a year earlier.

Its order book grew to 87 million euros from 83 million at the end of 2007.

Net profit increased to 1.5 million euros from 1.25 million a year earlier but the strengthening of the euro against the dollar had a negative impact, IPTE said.

"The financial result was again affected by the marking to market valuation of outstanding USD (dollar) hedging contracts. Without this booking, net profit would have been 0.73 million euros higher," it said in a statement. (Reporting by Julien Ponthus; Editing by Dale Hudson)



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