UPDATE 1-Geberit says construction market still tough as Q2 sales dip [Reuters]
GEBERIT AG UNSP/ADR (GBERY)
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Source: Reuters
UPDATE 1-Geberit says construction market still tough as Q2 sales dip - Reuters 2 Min Read (Adds details, background) By John Revill ZURICH, Aug 15 (Reuters) - Geberit said it still expects the construction market to remain tough for the rest of the year after the plumbing supplies company posted a 1.3% fall in sales during its second quarter. The company, which makes piping and bathroom products used by plumbers, said its revenue fell to 797 million Swiss francs ($819.03 million), matching analyst forecasts. Net income rose 1.1% to 173 million francs, also meeting expectations. For 2019 as a whole, the Swiss company said it expects currency-adjusted sales growth of 3% to 4%, and an operating cashflow (EBITDA) margin of 28% to 29%. In 2018 the company’s sales increased by 3.1%. Geberit said its view of the construction market had not changed significantly during the first half of 2019, saying “the environment will remain challenging due to an increase in volatility and the slowdown of
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