CFF Pleased with Results

Scrap recycler’s FY 2002 earnings match forecast.

CFF Recycling, the French scrap recycling company with extensive operations throughout Europe as well as some in North America, has released its 2002 fiscal year financial results.

The company’s chairman, Daniel Derichebourg, says the firm’s European earnings declined in fiscal 2002, although this was partly offset by increased American earnings.

Total operating income for CFF for the year was $36.7 million, with a net income of $14.8 million. The company’s 2002 fiscal year ended on September 30.

In its fiscal year end results announcement, the company also disclosed that its debt level is $48 million and its revenues for the 2002 year was just over $1 billion.

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