Plus   Neg

Geberit Group H1 Profit Edges Up; Sees Currency Adjusted Sales Growth In FY19

Sanitary technology solutions provider Geberit Group (GBERF.PK) reported Thursday that its first-half net income rose 0.9 percent to 365 million Swiss francs from last year's 362 million francs, reflecting a higher tax rate. Earnings per share increased 2.4 percent to 10.14 francs from 9.90 francs a year ago.

Operating profit or EBIT grew 1.7 percent from last year to 431 million francs, which corresponds to an EBIT margin of 26.5 percent, compared to last year's adjusted EBIT margin of 26 percent.

Sales edged down 0.2 percent to 1.627 billion francs in the first six months from last year's 1.630 billion francs. However, currency adjusted sales improved 3.1 percent.

For the second quarter, sales decreased 1.3 percent from last year to 797 million francs. Currency adjusted sales grew 2.6 percent.

Looking ahead, the company said it expects, for 2019 as a whole, to achieve currency-adjusted sales growth of 3 to 4 percent and an operating cash flow margin of 28 to 29 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration on Tuesday unveiled a new international collaboration for simultaneous review and approval of cancer drugs along with the agency's Australian and Canadian counterparts. The simultaneous approval of cancer therapies by the three regulators is intended to accelerate the process of making these new treatments available to patients around the world. Humanscale Corp. recalled about 24,900 units of QuickStand Lite workstations for concerns of injury hazard. These include about 2,200 units sold in Canada. The recalled workstation's arm can break and cause the workstation to fall, posing a risk of injury. The company has already received 52 reports of the arm breaking, including 12 reports of minor injuries. Facebook has revealed more details on the structure of an independent "oversight board" that will make final decisions about what posts stay up or come down, even if the company disagrees. The new "Oversight Board" will govern appeals from both Facebook and its users.
Follow RTT