Geberit says construction market still tough as Q2 sales fall

Credit: REUTERS/ARND WIEGMANN

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.

ZURICH, Aug 15 (Reuters) - Geberit GEBN.S 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)

((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters Messaging: john.revill.thomsonreuters.com@reuters.net))

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