April 17, 2018 / 3:32 AM / 5 days ago

Swiss group Sika Q1 sales scrape past estimates

April 16 (Reuters) - Swiss construction chemicals group Sika reported first-quarter sales slightly above expectations on Tuesday as it awaits court verdict on its bitter takeover battle with France’s Saint-Gobain.

Sika, whose products were used to help waterproof the Gotthard railway tunnel under the Alps, said sales rose 11 percent to 1.55 billion Swiss francs ($1.61 billion) in the three months ended March 31. That beat forecasts of 1.54 billion francs in a Reuters poll.

Sales growth in local currencies was 11 percent, as the company benefitted from a string of recent acquisitions and increased activity in the global construction market. ($1 = 0.9600 Swiss francs) (Reporting by John Revill in Zurich and Shalini Nagarajan in Bengaluru; Editing by Gopakumar Warrier)

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