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France's Mersen hikes 2017 sales guidance after buoyant Q3
October 25, 2017 / 4:04 PM / in 25 days

France's Mersen hikes 2017 sales guidance after buoyant Q3

Oct 25 (Reuters) - French carbon and graphite production company Mersen reported on Wednesday a 9.2 percent rise in sales and revised up full-year guidance for its sales and operating margin.

The firm, whose products are used in the electrical industry, said consolidated sales were 198 million euros ($233.76 million) in the third quarter, despite a depreciation in the value of the U.S. dollar against the euro.

In the Asia-Pacific region, sales climbed 24.4 percent year-on-year, with China, South Korea, Japan and India all reporting double-digit growth, the company said.

In North America, sales were up 6.6 percent on a like-for-like basis, extending an upswing from the second quarter.

Following the results, Mersen said it was expecting like-for-like sales to grow between 7 percent and 8 percent for the year, up from between 3 percent and 5 percent.

The operating margin was expected to rise by 150 to 170 basis points year-on-year, compared with a previous expectation of between 80 and 130 basis points, the company said.

$1 = 0.8470 euros Reporting by Camille Raynaud; Editing by Edmund Blair

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