Italy's Interpump net profit rises in second quarter, shares up 4%
Italy's Interpump net profit rises in second quarter, shares up 4% August 5 (Reuters) - Shares in Italy's Interpump ITPG.MI rose as much as 5.5% on Wednesday after it reported a 6.6% increase in second-quarter net profit and said it expected its full-year revenue to be at the upper end of guidance.
The high-pressure pump maker's shares had plummeted in May after it forecast between a 2% drop and a 3% rise in annual revenue, falling short of market expectations.
Executive Chairman Fulvio Montipò said diversified products along with a flexible operating model were cushioning the company against geopolitical volatility, shifting tariff policies and uncertain input costs.
Q2 consolidated net profit was up 6.6% year-on-year at €64.3 million, second-quarter revenue rose 1.1% to €561.4 million.
Revenue at the hydraulics business rose 9.2% y/y while that of the water jetting business dropped 13%.
Interpump shares were 4.1% higher by 1356 GMT, but remained down 20% so far this year.
($1 = 0.8662 euros)
(Reporting by Anna Uras; Editing by Kirsten Donovan)