Thule soars on Q1 EBIT margin helped by pricing, costs cuts

Thule AB

27/04/2023 10:25

** Shares in Thule  THULE.ST  are up 10.3% after the Swedish
sport equipment maker reported first quarter EBIT margin above
analysts estimates, citing "healthy profitability"
    ** Thule reports EBIT margin in the quarter at 17.2%,
against consensus expectations of 13.1%, as it cites price
increases, reduced freight costs, selling expenses
    ** "We believe the company has effectively managed its
profitability through price increases and a lower cost base",
Jefferies says
    ** Thule shares are up 30% year to date

 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))