Alno AG revenues plummet

German kitchen manufacturer Alno AG has reported a drop in sales and profits for the 2016 financial year.

The group, which is currently in self-administration while its attempts to restructure the business in a bid to save it, saw sales revenue fall from €521 million (£474m) in 2015 to €493m in 2016.

Earnings before interest, tax, depreciation and amortisation (EBITDA) nosedived to produce a loss of €27m, compared with a €14m profit the year before. An operating a loss of €11m in 2015 deepened to a loss of €45m in 2016.

The group said that these results were provisional and unaudited, with the values subject to change “significantly” should the restructuring of the group be unsuccessful following the self-administration period.

Alno has recently seen one of its most high-profile customers, John Lewis, pause all Alno kitchen orders until further information on Alno AG’s future has been supplied.

However, former chief executive Jonathon Wagstaff has said that he believes that the business will survive.

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