October 3, 2019 / 5:14 AM / 12 days ago

Sika aims to boost sales, operating margin as part of 2023 plan

ZURICH, Oct 3 (Reuters) - Swiss adhesives maker Sika is targeting acquisitions and other measures to boost sales 6-8% annually through 2023, while also increasing efficiency as it shoots for a raised 15-18% operating profit margin, the company said on Thursday.

“An important driver for margin improvement will be increased operational efficiency,” Sika said in a statement. “Projects in the areas of operations, logistics, procurement and product formulation will result in an annual improvement in operating costs equivalent to 0.5% of sales.”

The previous margin target was 14-16%, it said. (Reporting by John Miller; Editing by Michael Shields)

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