FGI Industries rises on higher Q4 revenue, profit
28/03/2022 22:12
** Shares in bath and kitchen fixtures supplier FGI.O up
~7% at $3.88 in extended trading
** Co says Q4 revenue rose 47% to $52.2 mln and reports
adjusted profit of 10 cents per share urn:newsml:reuters.com:*:nPn1BQMHGa
** Revenue benefited from strong growth in both sanitaryware
and bath furniture, as well as from new products such as shower
systems and kitchen cabinetry
** Co reports Q4 net income of $1 mln, or 15 cents per
share, from $0.7 mln, or 10 cents per share, a year ago
** FGI sees 2022 total revenue of between $182 mln and $189
mln
** Expects 2022 net income of $5 mln to $6 mln
** Up to Monday's close, stock had fallen ~39% since January
IPO price of $6
(Reporting by Ananya Mariam Rajesh in Bengaluru)
((AnanyaMariam.Rajesh@thomsonreuters.com))