Beijer Ref tops STOXX as it sees strong growth ahead

Beijer Ref AB (publ)

31/01/2024 08:54

** Shares in Beijer Ref  BEIJb.ST  rise more than 8% after
the Swedish wholesaler of cooling technology reported Q4 sales
above expectations and forecast continued growth in 2024
    ** Beijer says it expects strong structural trends to
continue stimulating growth 
    ** It plans to continue to reduce its inventory this year,
adjusted for normal seasonal variations
    ** The company says Q4 net sales grew by 31% to SEK 7.63
billion ($733.2 million), 1% above consensus
    ** "We expect a positive reaction in today's trading 
session,  mainly  due  to  positive  outlook  comments," says
Jefferies
    ** The broker notes there has been no material deterioration
in the company's end-markets
   ** Beijer Ref is the top gainer on the pan-European STOXX 600
index  .STOXX 

($1 = 10.4020 Swedish crowns)

 (Reporting by Agnieszka Oleńska)
 ((Agnieszka.Olenska@thomsonreuters.com;))