STOCKWATCH Trigano higher as Q1 sales beat forecasts |
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Published
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Tue, 08 Jan 2008 09:16
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PARIS (Thomson Financial) - Shares in Trigano rose after the caravan and camping equipment manufacturer reported a sharper than expected 14.4 pct rise in sales for its first quarter to November.At 9.22 am, Trigano shares were up 2.00 eur or 7.30 pct at 29.40 eur as the Next-150 index added 13.39 points or 0.80 pct to 1,696.38.Trigano said sales in the latest quarter rose to 239.3 mln eur from 209.1 mln eur a year ago. Analysts were expecting revenues of 231.6-232.1 mln eur.The rebound stemmed mostly from a 16 pct rise in caravan sales, versus 10 pct expected, Natixis Securities analysts said in a note to clients, reiterating an 'Accumulate' recommendation and 37 eur target.Analysts at CA Cheuvreux said the shares should rise after the higher than expected sales but they kept an 'Underperform' rating and 36 eur target, noting that the company made no change to its full year guidance.Trigano maintained its objective of 1 bln eur sales for the full year, or a 7 pct year-on-year increase. The group also said profitability should increase thanks to an increase in activity, an improvement in productivity and 'the non-recurrence of problems that affected 2007'.Andrew.Newby@thomson.coman/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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NASDAQ
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2630.24 |
+33.88 (
1.30 %)
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2007-09-28 ) |
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LONMIN
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11:35am )
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3649.00 |
+251.00 (
7.28 %)
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CARNIVAL
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11:35am )
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2374.00 |
+157.00 (
7.07 %)
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RIO TINTO
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11:35am )
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3528.00 |
+65.00 (
1.89 %)
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| SYMBOL (
2007-09-04 )
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2007-09-04 )
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Trigano FY profits lower on higher production costs; sees growth in 2008 