Fagron jumps on solid Q1 revenue

Fagron NV

13/04/2023 08:23

** Shares in Fagron  FAGRO.BR  rise 6% after the Belgian
healthcare company posted a 16% jump in Q1 revenue to 181 mln
euros ($199 mln) driven by organic growth, acquisitions and
currency exchange effects
    ** The group continues to see a mid-to-high single digit
organic revenue growth for 2023 and maintains medium-term
objectives
    ** "Fagron's 1Q23 update shows solid performance, with
robust topline growth in key regions," KBC Securities says
    ** The broker adds the high note of the update is North
American compounding showing sustained strong growth and nearing
the 50 mln euros per quarter mark
    ** "We expect a positive share price reaction and mid-single
digit upgrades to FY2023 EBITDA consensus," said ING in a note
    ** The stock is on track for a best day since Feb. 9

($1 = 0.9106 euros)

 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))