German car heating systems supplier WET Automotive Systems GmbH reported a fourfold increase in net profits to DM7.4 millin (3.7million) in the first half of its 1999-2000 fiscal year.
Sales were up 18 percent to DM104.1 million. Full-year sales are expected to rise 20 percent to DM225 million.
The group said cash flow was much improved because of lower investments in new capacity than a year ago. However, research and development costs rose sharply. The company applied for 10 new patents in the first half of the year.
WET Automotive's Chief Executive Peter Paul Moll said the company expects to start series production of two new systems this year: fully ventilated seats and heated steering wheels.