Pfleiderer AG Annual Profit Gains 19% on Lower Tax Rate
NEUMARKT, GERMANY — Wood supplier Pfleiderer AG announced that full-year profits for 2007 rose 19% on lower taxes. Profit after tax from continuing operations advanced to $117.3 million, while the tax rate fell to 12% due to deferred tax income and losses carried forward. The company’s profit has been eroded by costs to integrate flooring maker, Pergo, but sales advanced 27%. The company expects 2008 1Q results to be better than those the company experienced in the1Q of 2007.  Read more.
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