Feb 22 (Reuters) – Sika AG reported better-than-expected net profit for 2018, the construction chemicals maker said on Friday, as its results were boosted by new factory openings and takeovers.
The Swiss company, which makes products used for strengthening and waterproofing concrete walls and flooring, reported full year net profit rising 5.9 percent to 687.1 million Swiss francs ($686.55 million). The figure beat analyst forecasts for 685 million francs in an Infront Data poll.
Sika posted full year operating profit of 945.9 million francs, within its target range of 940 million to 960 million Swiss francs. The company had already reported a 13.4 percent increase in full year sales to 7.09 billion francs, earlier this year.
$1 = 1.0008 Swiss francs
Reporting by John Revill in Zurich and Bhargav Acharya in
Bengaluru; Editing by Rashmi Aich