Krones is targeting a new turnover record in 2011

Krones AG, a German maker of beverage filling and packaging machines, Wednesday reported a higher profit for the nine-month period, as sales increased about 15 percent on higher demand across all major sales regions. The board anticipates full-year 2011 result to show a significant improvement from last year.

Meanwhile, the company said it has significantly upsized its workforce to achieve its medium-term growth targets, which is expected to adversely affect earnings in the short term.

For the nine months ended September 30, the company's profit increased to 59.3 million euros from 31.9 million euros in the previous year. On a per share basis, earnings were 1.97 euros, higher than 1.05 euros reported a year earlier.

Earnings before taxes, or EBT, in the nine months, increased to 84.1 million euros from 47 million euros in the previous year. Earnings per share were 1.97 euros, following 1.05 euros in the preceding year.

EBT margin was 4.6 percent, up from 3 percent in the prior year.

Sales for the period improved 14.6 percent to 1.81 billion euros from 1.58 billion euros in the same period last year. Krones said it recorded its highest rates of increase in Asia, South America and Russia. Order bookings grew 17 percent to 1.89 billion euros.

Order backlog as at September 30 was 987.3 million euros, higher than 923.2 million euros in the preceding year.