August 15, 2019 / 5:08 AM / a month ago

Geberit says construction market still tough as Q2 sales fall

ZURICH, Aug 15 (Reuters) - Geberit said it still expects the construction market to remain tough for the rest of the year after the plumbing supplies company posted a 1.3% fall in sales during its second quarter.

The company, which makes piping and bathroom products for new build and renovation projects, said its revenue fell to 797 million Swiss francs ($819.03 million), matching analyst forecasts. Net income rose 1.1% to 173 million francs, also meeting expectations.

For 2019 as a whole, the Swiss company said it expects currency-adjusted sales growth of 3% to 4% and an operating cashflow margin of 28% to 29%.

$1 = 0.9731 Swiss francs Reporting by John Revill

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