WASHINGTON (dpa-AFX) - Swiss specialty chemicals company Sika AG (SXYAY.PK, SKFOF.PK) reported Thursday that its first-half net profit increased 3.9 percent to 330.7 million Swiss francs from last year's 318.2 million francs.
Earnings per share remained at prior year's level of 2.11 francs.
Operating profit or EBIT improved 8.3 percent to 481.7 million francs from previous year's 444.6 million francs. Operating profit before depreciation or EBITDA grew 14.5 percent to 623.8 million francs.
Sika managed to increase its gross result to 53.8 percent from previous year's 53.6 percent.
Net sales improved 7.6 percent to 3.47 billion francs from 3.73 billion francs last year. Sales growth was 9.6 percent in local currencies.
Looking ahead for the 2019 financial year, Sika now expects an increase in sales to more than 8 billion francs along with double-digit EBIT growth.
The company previously estimated sales to be at least 8 billion francs.
The implementation of the company's growth strategy will continue in 2019 with the opening of between seven and nine new factories, and the establishment of further growth platforms in the form of acquisitions. The company will present the details of the new Strategy 2023 at the Sika Capital Markets Day on October 3.
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