October 25, 2018 / 3:24 AM / a month ago

Sika's 9-month profit beats expectations

Oct 25 (Reuters) - Sika AG reported better-than-expected profit for the nine months on Thursday and confirmed its target of increasing sales by more than 10 percent this year to reach 7 billion Swiss francs ($7.03 billion).

The construction chemicals maker, which defeated a hostile takeover approach from France’s Saint-Gobain earlier this year, said net profit rose 10.5 percent to 527.7 million Swiss francs for the nine months ended September, beating forecasts of 511 million Swiss francs in a Reuters poll of analysts.

Sales increased 14.1 percent to 5.32 billion Swiss francs, also ahead of expectations. ($1 = 0.9959 Swiss francs) (Reporting by Reporting by John Revill in Zurich and Bhargav Acharya in Bengaluru; Editing by Gopakumar Warrier)

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