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Legrand SA Narrows FY 2013 Organic Sales Growth Guidance; Raises Lower Level of FY 2013 Operating Margin Guidance; Acquires Tynetec

Thursday, 7 Nov 2013 01:42am EST 

Legrand SA announced that it is narrowing its target for organic growth in sales and is now aiming for fiscal year 2013 organic growth in sales of between -1% and +1% compared with an initial target of -2% to +2%. In addition, the Company has raised from 19% to 19.5% its minimum target for adjusted operating margin before acquisitions, and now targets fiscal year 2013 adjusted operating margin before acquisitions of between 19.5% and 20.0% of sales compared with an initial target of 19% to 20%. The Company also announced that after acquiring Seico, the Saudi specialist in industrial metal cable trays; S2S Onduleurs, a French specialist in uninterruptible power supplies (UPS); and Adlec Power, one of the main Indian producers of distribution boards, Legrand SA announced its acquisition of Tynetec, which makes systems dedicated to assisted living in the United Kingdom. Located near Newcastle, Tynetec employs around 110 people and has annual sales of over EUR 15 million. Financial terms were not disclosed. 

Company Quote

-0.225 -0.51%
19 Sep 2014