Howe doubles automotive leather sales in Asia
At last there is some positive news to report from the automotive leather sector.
Australia’s Schaffer Corporation has reported increased revenue of A$54 million ($49.48 million) at its automotive leather company, Howe’s, for the first half of fiscal 2008, driven by a doubling of sales into the Asian market, which rose from $12.7 million in the first half of 2007 to $25.9 million this year. The European market also posted gains, following a steady downward trend in recent years, while Howe’s North American sales “appear to have stabilised”.
The company is also anticipating a continued upward sales trend and is forecasting full year revenue to be significantly higher than in 2007, as a result of a rebound in North American revenues and continued demand in the Asian market.
