May 2, 2019 / 5:11 AM / in 19 days

Geberit says 2019 will be challenging year after Q1 profit beat

ZURICH, May 2 (Reuters) - Geberit said it expected 2019 to be a “challenging” year, citing increased economic volatility and a construction slowdown in many markets, as it reported first quarter earnings ahead of expectations.

The plumbing materials supplier said net profit rose 9.3 percent to 192 million Swiss francs ($188.73 million), beating analyst expectations for 175 million francs in an Infront Data poll.

Operating cashflow (EBITDA) rose 6.8 percent to 262 million francs, while sales increased 0.9 percent to 830.3 million francs beat expectations of 821 million francs. ($1 = 1.0173 Swiss francs) (Reporting by John Revill)

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