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The Technotrans Group posted revenue of € 19.8 million in the first quarter of the new financial year.According to a statement released by the company. Technotrans has shown an improvement of € 19.6m($23.4m) this year, over Q-4, 2009, although the latest figures represent a 14.5 percent decline as compared to the same period last year.

Dirk Engel, CFO, Technotrans said, "Following on from the low revenue in the first quarter, we believe there are good prospects of achieving our goal of returning to sustained profitability in the 2010 financial year.

"The break-even point has already lowered during the crisis, allowing us to turn a profit even on the low first-quarter revenue. If business should pick up further in the course of the year - and we expect that it will - a corresponding improvement in results should be possible."

Company officials have said that cost-cutting measures have significantly lowered the break-even point helping the company improve its position. Distribution costs, administrative expenses and development costs were slashed considerably, and the number of employees have been reduced from 729 to 616 people.