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Higher sales in Germany, expected to remain a bright spot this year, helped Swiss sanitary equipment maker Geberit AG to match analysts’ 2015 revenue expectations, sending its shares higher.
Copyright – Geberit
The company, which supplies bathroom fixtures and water piping systems, also lifted expectations for operating profit for the full year 2015.
Sales in Germany, a market that generates more than a third of Geberit’s revenue, rose 14.5 percent in the fourth quarter, helping to offset weaker revenue elsewhere in Europe.
Germany will grow further in 2016, Chief Executive Officer Christian Buhl predicted, amid uncertainty elsewhere in the European construction industry.
Reuters. Read full article.
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