Equipment

Krones, the packaging technology company, has reported a 31% increase in gross profit to EUR86.8m (£68.4m) for the third-quarter of the year.

The company reported that sales for the quarter increased by 9% on the same period last year to €561m. However, new orders were 4% down on the third-quarter of 2007.

Krones said it benefited from cost cutting measures in the third-quarter, while higher demand in emerging markets offset weakness in the US and Europe.

Volker Kronseder, chairman, said: "A look at our business model shows that we are well positioned to weather difficult economic times.

"Krones delivers high-tech products and complete solutions for the beverage market, the food industry and the pharmaceutical and cosmetic industries. Right now, some 6.7 million people inhabit the earth and all of these people want to eat and drink, irrespective of economic cycles," he added.