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SR Technics sees strong growth in 2004, looks forward to IPO
SR Technics Holdings reported that 2004 operating earnings soared to CHF34 million ($27.7 million) from CHF8 million in 2003 on a 24% rise in sales to CHF1.17 billion.
The MRO services provider said that the improvement came in the face of "a difficult market environment and the impact of a weak US dollar." Net loss narrowed to CHF2 million from CHF4 million. Operating cash flow rose 18% to CHF99 million, which enabled SR Technics to partly fund the CHF218 million acquisition of FLS Aerospace while also retiring "a significant amount" of long-term debt.