August 17, 2017 / 5:14 AM / in a year

Geberit highlights positive construction market after Q2 miss

ZURICH, Aug 17 (Reuters) - Geberit said positive demand from the construction industry would help it improve its full-year sales by 3 to 4 percent after the toilet and plumbing supplies maker missed forecasts during its second quarter.

The Swiss company said net profit fell 37 percent to 104.8 million Swiss francs ($108.70 million) in the three months ended June 30, missing the average analyst forecast of 119 million francs in a Reuters poll.

Sales at the Geberit, whose results are seen as an indication for the health of the building market in central Europe, fell 3.8 percent to 732 million francs, short of forecasts of 750 million francs.

Results were hit by 44 million francs in costs incurred from closing two ceramics plants in France, as well as fewer working days due to Easter falling during its second quarter.

$1 = 0.9641 Swiss francs Reporting by John Revill, editing by John Miller

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below