Nobia says UK housing market better than feared after Brexit vote
07/09/2016 10:03
STOCKHOLM, Sept 7 (Reuters) - The British housing market is
developing better than first feared after the Brexit vote,
Mikael Norman, CFO at Swedish kitchen firm Nobia NOBI.ST ,
which has a major exposure to Britain, told Reuters in a
telephone interview.
** Norman declined to comment on the company's order intake
or customer visits in stores but said the housing market has
surprised a bit on the positive side compared to what was first
feared. "This is our view when we are pulling together
everything that is said about the market."
** In 2015 Nobia had 46 percent of group sales in Britain
and a market share of around 25 percent.
** Norman sees more uncertainty in Britain but no crisis
scenario for the company. "But we want to continue to improve
our margins and it can be a challenge if the market weakens."
** British consumers have regained some of the confidence
they lost in June after the Brexit vote, according to surveys
published by the end of August. ID:nL8N1BC0WR
** Britain's biggest housebuilder Barratt Developments
BDEV.L said on Wednesday sales had risen during July and
August, giving the firm confidence it was "business as usual"
since the June vote to leave the European Union. ID:nL8N1BJ0R7
** Nobia shares are down 23 percent this year, and 9 percent
since June 23 when Britain voted to leave the EU.
(Reporting by Rebecka Roos; editing by Johannes Hellstrom)
((rebecka.roos@thomsonreuters.com; +46-8-7001032; Reuters
Messaging: rebecka.roos.reuters.com@reuters.net))