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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.

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