R. Stahl AG (RSLG) Wednesday posted higher profit for the first quarter helped particularly by a sales increase in Europe, excluding Germany. The firm further confirmed the outlook for the current year.
For the quarter, the company posted profit before tax of 4.7 million euros, up from 4.2 million euros last year. Profit after tax totaled 3.2 million euros, up from 3 million euros reported for the year-earlier period. On a per share basis earnings for the three months was 0.54 euros, versus 0.51 euros last year.
The company clocked total sales of 72.1 million euros, up 10 percent from 65.5 million euros for the prior-year period. Europe, excluding Germany contributed 34.3 million euros, up from 29.5 million euros last year.
Looking forward, the company said, awarding of a number of large projects is scheduled for the middle of the year, so stronger growth is expected for the second half of the year. It sees full year sales between 305 million euros and 315 million euros and earnings before taxes between 21 million euros and 23 million euros.
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