22.04.2008

Harsco Access up 20%

Harsco Access Services which owns SGB, Hünnebeck and Patent Scaffolding has reported a 20 percent increase in first quarter revenues to $379 million. Organic sales growth contributed $33 million, or just over 10 percent, while acquisitions added $1 million -less than one percent and positive foreign currency exchange rates contributed $29 million, or around nine percent.

Operating income increased by eight percent to $37.8 million with currency factors representing around 10 percent of that.

Harsco says that the growth was the result of end user demand, particularly in the Middle East, Asia Pacific, North America and Eastern Europe. Although it says that the quarter was negatively affected by a number of events including the earlier Easter holiday, the timing of export sales, and weather-related delays.

The company has also given a positive outlook for continued growth and anticipates a record year in 2008 and beyond.

The Harsco group as a whole, saw revenues increase by 18 percent to $988 million and pre-tax profits by over 25 percent to $56.9 million and has raised its full year earnings projections as a result.