April 30, 2020 / 5:26 AM / a month ago

Geberit says nearly all markets hit by coronavirus as Q1 profit falls

ZURICH, April 30 (Reuters) - Geberit said the new coronavirus pandemic started to affect "practically all markets" from the second half of March, as it reported a decline in first quarter operating profit.

The Swiss plumbing supplies company reported a 0.7% fall in operating cashflow to 260 million Swiss francs ($266.86 million)during the first quarter, while net profit fell 4.4% to 184 million francs.

The company, whose products are used in new construction and renovation projects, had already announced a 3.9% fall in its first quarter sales, caused mainly by the rising value of the Swiss franc. ($1 = 0.9743 Swiss francs) (Reporting by John Revill, editing by John Miller)

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