FRANKENTHAL, Germany –- Hardwood flooring manufacturer Tarkett Sommer AG said profit rose 11% in the first quarter of 2001 as price increases took effect and sales rose. The company forecast “moderate” sales growth for the remainder of the year.

Net income rose to 6.1 million euros (US $5.4 million) from 5.5 million a year ago, while sales climbed 7.7% to 348.2 million euros, the company said in a faxed statement. Earnings before interest, taxes and amortization rose to 24.6 million euros.

Tarkett has been overhauling its business after earnings plunged about 80% in 1998 amid increased competition in Europe and lower demand in Russia. The German company also has been closing factories across Europe to help reduce costs.