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| Bosch Bounces Back; Regains Momentum of Growth in PH! |
Bosch Philippines sealed its 2017 fiscal year with USD 51 million in consolidated sales in the local market. This means that after a strong double-digit growth over the past three years, the company has recorded a decrease in sales last year.
“Our business was impacted by the projects of our Energy and Building Technology business sector. Project awards and purchases expected in the end of 2017 were published into 2018. Also, after several strong years of growth, our Mobility Solutions business moderated,” Richard Walker, Bosch Philippines Managing Director, addressed.
However, the brand is positive enough to expect that it will regain its momentum of growth in the country this year.
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“We had a good start into 2018. The local economy continues to benefit from stronger consumer spending and robust demand from the construction and manufacturing sectors,” Walker added.
Despite the difficult economic climate, Bosch eyes for further growth in 2018. The company expects its sales revenue to grow by two to three percent this year.