ZURICH Jan 10 Sika AG said it expects
to boost sales by 6-8 percent this year, with operating profit
growing even faster, as the adhesives maker opens six to eight
new factories and three to four new national subsidiaries.
The Swiss company said sales in local currencies rose 5.6
percent to 5.75 billion francs ($5.68 billion) in 2016, slightly
below analyst expectations of 5.79 billion francs.
Though it did not release profit figures, Sika said in a
statement on Tuesday it expects an operating profit of 780
million francs to 800 million francs for last year.
Sika has been growing revenue through factory openings and
takeovers despite being locked in a bitter clinch with members
of the company's founding family over their plans to sell a
controlling stake to France's Saint Gobain.
Sales growth in North America was fastest, at 7.8 percent in
local currencies, Sika said.
($1 = 1.0123 Swiss francs)
(Reporting by John Miller; Editing by Gopakumar Warrier)