Steel wire maker Bekaert up on strong Q1 sales growth

NV Bekaert SA

11/05/2022 08:39

** Shares in Belgian steel wire maker Bekaert  BEKB.BR  jump
4%, driven by strong Q1 sales growth despite lower volumes
 urn:newsml:reuters.com:*:nFWN2X222R
    ** The group, whose products are used in the automotive,
energy and utilities sectors, posts quarterly consolidated
organic sales growth of 19% to 1.39 billion euros ($1.47
billion) 
    ** "Bekaert demonstrated impressive pricing discipline," KBC
Securities says in a note
    ** Despite the overall increased uncertainty and high cost
inflation, the group says its profitability targets for
2022-2026 remain unchanged
    ** Including Wednesday's rise, the stock has dropped 12% YTD

($1 = 0.9479 euros)

 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))