MUNICH (dpa-AFX) - BayWa AG (BYWG), a German wholesaler and retailer of industrial and agricultural goods, Thursday reported that its second-quarter net income attributable to shareholders grew to 29.1 million euros from 25.9 million euros last year.
However, earnings before interest and tax or EBIT declined 9.7 percent to 66.0 million euros from 73.1 million euros last year.
Revenues for the quarter decreased 3.2 percent to 4.33 billion euros from 4.47 billion euros a year ago.
Looking ahead, BayWa expects the Group's business development in the second half of 2019 to pick up significantly. The management confirmed its fiscal 2019 outlook for a consolidating operating profit or EBIT higher than the previous year.
Copyright RTT News/dpa-AFX
© 2019 AFX News
