Aalberts jumps after positive trading update

Aalberts

10/11/2021 09:01

** Shares of Aalberts  AALB.AS  rise 4% after the Dutch
industrial machinery group reported a year-on-year imporvement
in sales and orders for the first ten months of the year
    ** Aalberts' revenue increased organically by 17% for the
period ending in October compared to same period last year
 urn:newsml:reuters.com:*:nFWN2S025Q
    ** ING analyst Tijs Hollestelle says the sales growth is
well above ING's estimates, which expected a 14.5% rise 
    ** The company's order book for the period is up 54%
year-on-year and up 59% versus 2019 
    ** "Aalberts does not have problems with shortage of
components and/or other key materials which delay production and
or deliveries to customers," Hollestelle says 
    ** The analyst adds that the positive update follows "in our
view impressive 1H21 results," and expects the shares to move
higher today 
    ** The stock is on track for its best day since late July,
when it closed up 8% 
    
    

 (Reporting by Lucinda Langlands-Perry)
 ((Lucinda.langlands-Perry@thomsonreuters.com))