STUTTGART (dpa-AFX) - After a weak first quarter, the office furniture retailer Takkt is hoping for better business as the year progresses. She continues to expect a gradual recovery in demand from quarter to quarter, said CEO Maria Zesch in Stuttgart on Thursday on the occasion of the presentation of the quarterly report. Profitability is also expected to improve over the course of the year. In the first three months of the year, however, there was still a great deal of restraint and uncertainty among corporate customers, Zesch continued. Many companies reduced their costs, investments and personnel.

From January to the end of March, turnover fell by more than 16 percent year-on-year to 269 million euros. This left the SDax company with 16.8 million euros before interest, taxes, depreciation and amortization, 44.5 percent less than in the same period last year. The corresponding margin fell from 9.4 to 6.2 percent. The management still expects it to be between 8 and 9.5 percent for the year as a whole. The company also intends to benefit from lower personnel costs after "consistently adjusting the number of employees to the lower demand".

At the bottom line, Takkt earned a good 5 million euros in the first quarter, almost two thirds less than in the same period last year./lewmis