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BRIEF-Feintool International FY 2016 sales up at CHF 552.2 mln
March 8, 2017 / 6:08 AM / 8 months ago

BRIEF-Feintool International FY 2016 sales up at CHF 552.2 mln

March 8 (Reuters) - Feintool International Holding AG :

* Generated sales of 552.2 million Swiss francs ($544.90 million)in 2016 financial year, which corresponds to an increase of 8.5%

* FY EBIT increased by more than 20% compared to previous year, to more than chf 41 m.

* FY consolidated net income of 32.1 million Swiss francs overall, which equates to a margin of 5.8%

* Will therefore propose to annual general meeting on April 25, 2017, that it increase dividend from capital contributions by one-third to 2.00 francs per Feintool share

* Feintool is generally expecting to develop positively in 2017, albeit in market conditions that are shaped by political uncertainty

* Without influence of latest acquisition of Chinese forming plant, we expect turnover of around 580 mln Swiss francs and an EBIT margin of 7.5% - 8% Source text for Eikon: Further company coverage: ($1 = 1.0134 Swiss francs) (Gdynia Newsroom)

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