Homag Group has reported record results in 2007, with revenue up by 13%, operating profit by 16% and orders by 19%.

Its preliminary results indicate that revenue reached €837m during 2007, with operating performance up to €860m. These were up from €736m and €741m respectively in 2006. Order values rose from €626m to €747m.

The company said that “rigorous cost management and a futher improvement in productivity” had helped drive the results, with 2008 already looking like it will surpass 2007’s figures.

“In 2007, we fully achieved the target for profitable growth and we can look back on the best year in the company’s history,” said spokesman Dr Joachim Brenk.

“There are already indications that revenue and earnings in the first six months of 2008 will exceed what had already been a healthy level in the comparable period of the prior year.”

Homag is to present the results in full on April 28.