BRUSSELS (dpa-AFX) - Swiss specialty chemical firm Sika AG (SXYAY.PK, SKFOF.PK) reported that its net profit after taxes for the first half of fiscal year 2023 declined 31.2% to 411.9 million Swiss francs from the prior year's 598.8 million francs, with earnings per share decreasing to 2.59 francs from 3.76 francs in the prior year.
But net sales for the period rose 1.8% to 5.35 billion francs from the prior year. Sales were up by 7.9% in local currencies.
For the full 2023 fiscal year, Sika expects a sales increase in local currencies of above 15%, after factoring in the acquisition effect of the MBCC takeover. Previously, it expected annual sales to rise by 6 percent to 8 percent in local currencies, excluding the impact of the MBCC acquisition.
The company confirmed an anticipated over-proportional rise in annual EBIT, excluding the influence of the MBCC takeover.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX