21 January 2005 – Zurich (CH): Globus Office World has posted a net sales increase of 5.7 per cent from CHF95.5 million ($80.2 million) in 2003 to CHF100.9 million in 2004, Globus Group has announced.
Total net sales at the Switzerland-based parent company were CHF1.171 billion, down from CHF1.234 billion in 2003.
Globus Group said it had completed its drive to eliminate unprofitable business lines in 2004 by selling off the large part of foreign operations. Office World UK was sold to Staples in August 2004.
Although the move reduced sales, they did in turn "create a renewed solid basis", the group said, adding that retail sales in Switzerland were maintained.
