Uponor Q1 earning higher on strong demand; beat consensus |
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Published
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Thu, 26 Apr 2007 09:57
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HELSINKI (Thomson Financial) - Finnish plumbing and heating systems supplier Uponor Oyj said first quarter earnings were higher year-on-year on strong demand for its products and systems amid healthy construction market.Quarterly pretax profit rose to 31.3 mln eur from 22.6 mln a year earlier, ahead of expectations of 24.1 mln eur in an 11-analyst survey by Kauppalehti/SME.Earnings per share was higher at 0.29 eur against 0.21 eur a year before and ahead of market consensus of 0.23 eur.Net sales came in at 300.8 mln eur versus 250.5 mln eur and also well above market expectations of 365 mln eur.Operating profit rose 43.6 pct during the quarter to 31.3 mln eur.Looking ahead, the company reiterated its previous guidance noting the healthy construction market and strong demand for plumbing systems will remain strong.It also said organic growth in net sales is expected to be about 10 pct, meeting the long-term financial target set previously by the company, and operating profit to improve year-on-year.azer.sawiris@thomson.comafs/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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