KTM back on track as earnings rise

Upper Austrian motorcycle and off-road vehicle maker KTM Power Sports AG is racing all the way on the road to recovery as earnings soared in the first half of its 2009/2010 business year.Officials at the Mattighofen-based firm said today (Thurs) earnings before interest and taxes (Ebit) climbed to 6.3 million Euros after losses of nine million Euros in the first half of its 2008/2009 business year. Turnover however slumped by seven per cent to 208 million Euros, they added.KTM bosses said they wanted to increase its market shares by introducing new motocross bikes during the second half of its current business year.The company sold 30,532 off-road vehicles and bikes during the past six months.KTM sacked 450 employees last year, while a further 733 did part-time from May to September 2009.Firm chief Stefan Pierer branded the 2008/2009 business year as the “worst of all time” for KTM earlier this year as it suffered losses of 84.1 million Euros.