Tarkett Income, Sales Rise in 2010

Paris, France, March 10, 2011 -— Tarkett said its net income in 2010 grew 62% to $154 million, thanks in part to lower restructuring costs and general cost controls.

In addition, Tarkett said sales were up 12.4% compared with 2009 through organic growth (6.5%), acquisitions (2.0%) and favorable exchange rates (3.9%).

The company said that improving sales and productivity have been offset somewhat by rising raw material costs.

"Our strategy for profitable growth has been justified by good financial results for 2010. In 2011 the Group will continue to expand its growth in emerging markets and implement its policy of targeted acquisitions,” said CEO Michel Giannuzzi.

Sales in emerging markets rose 24% and now account for 34% of sales.

In Europe and North America, Tarkett posted 2% growth in floor coverings. However, the sports surfaces business has been badly hit by cuts in public spending, shrinking 7% compared with 2009.