Coltene reports sales increase in first half of 2011

Coltene has announced its financial report for the first half of the current business year, during which it experienced a double-digit year-on-year growth in sales.

The dental consumables manufacturer's sales total for the six-month period came to 72.4 million Swiss francs (55.9 million pounds), up by 12.7 percent in local currency terms, while organic growth was measured at 6.5 percent.

During this half-year, the company has taken steps such as the acquisition of Brazilian business Vigodent, while also initiating measures to reduce net working capital and implement a more currency-neutral allocation of group functions between its various sites.

The company said it is taking a cautious stance to the second half of the year, but expects to achieve a full-year sales total of between 144 and 149 million Swiss francs.

"Today, Coltene is well positioned in the growing and stable dental consumables market," the report said.

Last month, the company announced the departure of chief executive officer Andreas Meldau, with board member Erwin Locher assuming his leadership and management responsibilities on an interim basis.