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Stratec HY Adj. Profit Increases

Stratec SE reported that its adjusted consolidated net income from continuing operations for the first six months of the 2019 increased 37.9% to 10.3 million euros from 7.5 million euros last year. Adjusted earnings per basic share from continuing operations for the period rose by 36.5% to 0.86 euros, from 0.63 euros in the previous year.

Adjusted EBIT grew 40.4% to 12.7 million euros from 9.1 million euros in the prior year.

Consolidated sales increased 24.1% to 110.4 million euros from 88.9 million euros last year. On a constant currency basis, sales grew 21.7%. The sales growth was driven in particular by higher numbers of systems called up, as well as by increased sales with development and services.

The company still expects sales growth adjusted for exchange rate effects of at least 12% in 2019 and an adjusted EBIT margin of around 14% to 15%.

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