Kaufman & Broad: confirms FY outlook

(CercleFinance.com) - After trading on Friday evening property development and construction company Kaufman & Broad reported Q1 revenues of 328.
1 million euros, flat compared to the same period last year.

Net income, group share reached 13.7 million euros (flat), for adjusted EBIT of 29.6 million euros.

"Kaufman & Broad confirms its outlook announced last January for the full-year 2019. Total revenue should be stable compared with 2018: the expected drop in the first half due to the strong Commercial Property activity in the first half of 2018 should be offset by an increase in the second half of 2019. The gross margin ratio is expected to hold at around 19% and the adjusted EBIT ratio should remain above 9%," the company said regarding its outlook.


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