Sika announces growth in all regions
21 August 2015SWITZERLAND – Speciality chemicals company Sika announced growth and profit improvements in its half-year report, although the strength of the Swiss Franc resulted in a negative sales result.
By the numbers, sales grew by 5.6 per cent (brought down to -1.2 per cent by the exchange rate) ending in CHF 2.63bn (USD 2.73bn). Net profit was up by 11.1 per cent, and the outlook for the rest of the year suggests sales growth of six to eight per cent and an above average rise in margins.
Sika CEO Jan Jenisch said: "Once again, the successful first half shows that the rigorous implementation of our growth model is delivering outstanding results. Despite the challenging environment, our 17,000 employees have demonstrated their competence and commitment and achieved a record result. An increase in net profit of 11.1% is a very convincing result, given the appreciation of the Swiss franc. Double-digit sales growth in the core markets of the USA, Latin America, Africa, the Middle East, Eastern Europe, Southeast Asia and the Pacific underlines the strength of our growth model and allows us to face the future and the second half of 2015 with confidence."
