Italy's Sogefi third quarter net result bounces back to profit

Sogefi SpA

21/10/2022 13:51

Oct 21 (Reuters) - Italy's Sogefi  SGFI.MI  said on
Friday its net result swung to a net profit in the third
quarter, as the automotive sector slowly recovers from the
challenges of sourcing raw materials and the effects of the war
in Ukraine, sending its shares up as much as 8.6%.
    The group, which develops and produces air & cooling
systems, suspension components as well as filtration systems,
reported 12.2 million euros ($11.89 million) in net profit in
the July-September period, from a loss of 23.4 million in the
same period last year.
    Excluding a worsening of the macro scenario, the Milan-based
group said it expected an operating result in 2022 "at least" in
line with the result for last year.
    By 1251 GMT the stock was up 6%, outperforming the Italian
all-share index  .FTITLMS , down 2%
($1 = 1.0265 euros)
 (Reporting Federica Urso, editing by Alvise Armellini)
 ((Federica.urso@tr.com))