IMCD jumps on Q3 organic growth
08/11/2024 08:32
** Shares in IMCD IMCD.AS rise 5.3% after the Dutch
specialty chemicals maker posted Q3 results showing a "return to
organic growth across all regions," says KBC
** "This could result in positive momentum," broker adds
** Jefferies points that 3Q24 EBITA increased 11% to 133.5
million euros, in line with consensus, driven by an organic
revenue growth recovery of 5.5% (vs. a decline of 3.8% in 1H24)
** It says all regions are showing an organic recovery
despite a volatile global economic environment
** "We expect FY24E consensus EBITA will remain broadly
unchanged." -Jefferies
** "We recently hosted Johan Scholten, former IMCD Managing
Director Benelux, who believes an organic growth recovery is
likely in FY25E," broker adds
** If gains hold, share on track for a best day since August
2, 2024
(Reporting by Dimitri Rhodes)
((Dimitri.Rhodes@thomsonreuters.com;))