SEB reports 64.2% net profit jump

French group SEB, the world's leading manufacturer of small electrical appliances, generated a net profit of 143m euros last year, up by 64.2 per cent, on turnover of 2.87bn euros, up by 8.2 per cent. The operating profits went up by 55.2 per cent to 237m euros. Chairman and managing director Thierry de La Tour d'Artaise has said that the group is not feeling the economic slowdown, adding that he is also optimistic about the prospects of the business for this year.

SEB launches between 120 and 140 new appliances a year. Less than two-year old products account for 30 per cent of sales. Products launched within the previous twelve months represent between 15 and 20 per cent. SEB sold 110,000 units of its Actifry deep frier, which barely uses any oil. The retail price is 200 euros, compared with the average price of 70 to 80 euros for small electrical appliances. Other flagship products include the new Krups coffee machine for Nescafe Dolce Gusto - 150,000 units sold - and the