Cost-cutting Wolford reports rise in turnover

Bregenz-based textiles and tights manufacturer Wolford AG has managed to increase its turnover by more than six per cent.The company said today (Fri) its turnover climbed by 6.6 per cent to 120 million Euros in the first three quarters of the 2010/2011 business year compared to the same period of the previous business year.Its earnings before interest, taxes, depreciation and amortisation (Ebitda) rose by 31 per cent to 15.9 million Euros, while earnings before interest and taxes (Ebit) climbed by 59 per cent to 9.9 million Euros.The firm explained it managed to improve its performance by carrying out a “consequent cost-reduction regime”.Wolford is headed by Holger Dahmen. Peter Simma acts as the company¬ís CFO and deputy chairman. The firm, which has 1,500 employees, is listed on the Vienna Stock Exchange (WBAG). One share was worth 23 Euros at 11am today.Wolford announced last year that former Hugo Boss chief Werner Baldessarini became a member of its supervisory board and helped in positioning its product portfolio.