Honeywell raises net profit in ČR by 77% in 2011

Prague, Sept 5 (CTK) - Honeywell, a producer of parts and electronics for industry and households, raised net profit in the Czech Republic by 77 percent to Kc326.5m last year and its sales in the country grew by 6 percent to Kc3.1bn, according to the company's annual report.

Sales of own products, complete equipment and servicing sank by 44 percent last year. The fall was caused mainly by the end to production and sale of automobile sensors. On the other hand, sales abroad grew in the safety technology division.

Sale of business, production, technical and office services, which contribute over two thirds to the company's sales, rose by 8 percent. In particular development plant HTS CZ contributed to the growth in revenues in this segment.

Honeywell is now enlarging its development complex in Brno and, according to earlier information, it could hire up to 700 new employees. The company also plans investment into a new hall in Brno where it will test and develop brakes for cars and lorries.

Honeywell raised workforce in the Czech Republic by 8 percent to 1,913 last year and another 10 percent increase in workforce is planned this year. The employees work mostly in the company's operations in Prague and Brno.

Sales are expected to grow by up to 5 percent this year and the company expects to keep the current margin and its market share.

Parent group Honeywell supplies components for aviation, the car industry, automation and control for homes and industry. It also produces special materials used in telecommunications and electronics, the car industry, climate control equipment, construction, packaging, agriculture and the pharmaceutical industry.