ZURICH, June 22 (Reuters) - Sarna Kunststoff Holding AG expects 2002 group profit to rise to between 40 million and 50 million Swiss francs and operating margins to improve sharply, Chairman Walter Meyer told a newspaper.
The head of the Swiss plastics manufacturer said the U.S. market had developed better than expected in the first half which would enable the company to reach its financial targets.
"We expect a profit in the range of 40 million to 50 million," he said in an interview published in the Finanz und Wirtschaft business newspaper on Saturday.
Restructuring costs pushed Sarna's 2001 net profit down to 30.7 million francs from 41.0 million the year before, while turnover rose to 956 million thanks to acquisitions. The sales level should hold roughly steady this year, he said.
Sarna shares have risen by more than a quarter this year and closed on Friday at 1,645 Swiss francs.