Trigano jumps on record FY operating profit as demand improves

Trigano SA

26/11/2024 09:41

** Shares in Trigano  TRIA.PA  jump as much as 7.5% after it
posted record FY operating earnings thanks to improving demand
    ** The French leisure equipment maker reported FY operating
profit of 500.7 million euros ($525.8 million) on Monday after
market close, up 18.3% from a year earlier
    ** It cites rising motor home sales, cost control and
improved productivity as reasons for the higher profit
    ** Midcap Partners analysts note the record profit, which
reflects a 60 bps improvement in its operating margin 
    ** Trigano also flags a sharp increase in inventories,
affecting its working capital, but says it expects the situation
to normalize in H1 of 2025
    ** At 0939 GMT, the stock is up 2.9%, on track for its best
day in over a month
    ** Up to the previous session's close, the shares were down
19.5% YTD

($1 = 0.9523 euros)

 (Reporting by Jakob Van Calster)
 ((Jakob.vancalster@thomsonreuters.com))