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Geberit announces share buyback after posting 30 pct profit rise

ZURICH, March 14 Toilet and plumbing materials supplier Geberit reported a 30 percent increase in annual net profit on Tuesday and said it would launch a 450 million Swiss franc ($446.87 million) share buyback later this year.

Annual net profit rose to 548.2 million francs, from 422.4 million francs a year earlier, the Swiss company said, missing forecasts of 557 million francs in a Reuters poll.

The company had previously reported annual sales of 2.8 billion francs for 2017, 8.3 percent higher than a year earlier.

($1 = 1.0070 Swiss francs) (Reporting by John Revill)

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