Concentric’s 2016 net income slips 9% y/y to USD27.6 million
Full-year sales drop 13% y/y
Concentric reported a 9% year-over-year (y/y) decline in net income to SEK246 million (USD27.6 million) in the fiscal year ended 31 December 2016, the Sweden-based supplier for commercial vehicles said in a press release on 9 February. The company witnessed a 10% y/y drop in operating income to SEK341 million. Concentric reported decline in earning as net sales dropped 13% y/y to SEK2 billion. The company’s sales, after currency adjustments, fell by 10% y/y.
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