Georg Fischer rises as H1 results beat expectations
20/07/2022 07:52
** Shares in Georg Fischer GF.S are up 2.3% in Julius Baer
premarket trade after the Swiss auto parts deliverer posted
better-than-expected H1 figures urn:newsml:reuters.com:*:nL8N2Z10O8
** "Georg Fischer delivered a H1 2022 result above
expectation despite headwinds from lockdowns in China and some
supply chain disruptions," Baader Helvea says
** Credit Suisse highlights a "strong beat at H1 EBIT
level," 12% above consensus
** The Swiss group's EBIT came at 179 million Swiss francs
($184.61 million), 26.9% higher than in the same period a year
ago urn:newsml:reuters.com:*:nL8N2Z10O8
** The company also confirmed its full-year guidance
** "GF remains well positioned to leverage the structural
growth drivers urbanization, climate change, water scarcity, and
automation," Vontobel says, highlighting confirmed guidance
despite high cost inflation and supply chain issues
** Georg Fischer seen as the best performer on Swiss mid-cap
index .SMIM
($1 = 0.9696 Swiss francs)
(Reporting by Ana Cantero)
((ana.canteroros@thomsonreuters.com))