De' Longhi Q4 profits rise, shares jump
11/03/2021 13:52
March 11 (Reuters) - Italian home appliances maker De'
Longhi DLG.MI on Thursday posted a nearly 8% rise in
fourth-quarter net profit as people staying at home during
virus-related lockdowns boosted demand for coffee machines,
cooking helpers and air conditioners.
Shares in the company rose after the results and were up
9.1% by 1352 GMT, outperforming a 1.3% rise in Milan's mid-cap
index .FTITMC .
The company said normalized net profit stood at 96.2 million
euros ($115.10 million) in the period, while normalised revenue
rose 13.6% to 883.4 million euros at constant exchange rates.
The company, which will propose a dividend payout over 2020
results of 0.54 euros per share, said it forecasts revenues
rising between 22-26% this year, including the contribution from
blender maker Capital Brands which it agreed to buy late last
year. Excluding Capital Brands sales are seen rising between
12-15%.
($1 = 0.8358 euros)
(Reporting by Rita Plantera; editing by Agnieszka Flak)
((r.plantera@thomsonreuters.com ; +48 58 769 65 79))