Bekaert: stock up after FY results announced
(CercleFinance.com) - Bekaert is jumping 6.
7% in Brussels this morning, the sharpest riser in the Bel20 index, with investors hailing the presentation of FY 2017 attributable income that is up 76% at 185 million euros, representing EPS of 3.26 euros.
The Belgian specialty materials group has posted underlying EBIT of 301 million euros, representing a margin that is down 0.9 point at 7.3% on consolidated turnover that is up 10% at 4.1 billion euros.
Its Board of Directors will propose a stable gross dividend of 1.10 euro per share for 2017. Bekaert continues to believe that improvements in its business will enable it to increase its underlying EBIT margin to 10% over the medium term.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7% in Brussels this morning, the sharpest riser in the Bel20 index, with investors hailing the presentation of FY 2017 attributable income that is up 76% at 185 million euros, representing EPS of 3.26 euros.
The Belgian specialty materials group has posted underlying EBIT of 301 million euros, representing a margin that is down 0.9 point at 7.3% on consolidated turnover that is up 10% at 4.1 billion euros.
Its Board of Directors will propose a stable gross dividend of 1.10 euro per share for 2017. Bekaert continues to believe that improvements in its business will enable it to increase its underlying EBIT margin to 10% over the medium term.
Copyright (c) 2018 CercleFinance.com. All rights reserved.