Agfa sees increased sales in 1998

Bayer’s Agfa division reported its fiscal 1998 results last month. Agfa saw sales rise by 5% to DM 8.5 billion ($4.7 billion), as compared with DM 8.1 billion ($4.5 billion) in 1997. Its operating profit declined by 12.9% to $2.7 million, which the company attributed to the Asian financial crisis.

Sales in Agfa’s technical imaging systems division climbed 8% in 1998 as compared with 1997, from $993 million to $1 billion. The group’s medical business unit contributed about three-quarters of the division’s sales, Bayer said. In January, Agfa moved to acquire Sterling Diagnostic Imaging (SCAN 1/20/99), and the purchase should be completed this spring, according to the company.