Signify rises after smaller organic sales decrease, buyback

Signify

24/01/2025 08:31

** Signify  LIGHT.AS  rises around 5% after it reported
better-than-expected Q4 organic sales growth and announced a
share buyback
    ** It reported a smaller than expected organic sales drop of
2.8% vs 3.6% drop seen in consensus, cited by J.P.Morgan
    ** It also hiked its dividend, whereas JPM says it was
expecting the dividend to remain flat
    ** Separately, it announced that CEO Eric Rondolat will step
down in April 2025, which JPM says could be taken positively
"given his mixed track record, which also reflects challenges in
industry dynamics"

 (Reporting by Hugo Lhomedet)
 ((Hugo.lhomedet@thomsonreuters.com))