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COFACE: Q1 net income up 3.4%

( - COFACE has reported Q1 2019 consolidated revenues of 365.
5 million euros, up 6.7% at constant exchange rates compared to Q1 2018. In reported terms (current exchange rates), revenues rose by 6.2%.

Operating profit came in at 56.9 million euros, down slightly (-1.5 million euros) compared to the previous year. This is mainly due to the decrease in net financial income, the group said. In all, net income (group share) amounted to 36.4 million euros (compared to 35.5 million euros in Q1 2018).

As previously announced, a dividend of 0.79 euro per share will be proposed for FY 2018, corresponding to a 100% distribution rate of earnings per share (0.79 euro per share).

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