(Adds details, dividend proposal)
Feb 22 (Reuters) - Swiss construction chemicals maker Sika AG on Friday reported a full-year profit that beat expectations, bolstered by new factory openings and takeovers.
Sika, which makes products used for strengthening and waterproofing concrete walls and flooring, reported a 5.9- percent increase in its full-year net profit to 687.1 million Swiss francs ($686.55 million), beating analyst forecasts for a 685 million francs profit in an Infront Data poll.
Buoyed by the results, the company said it would propose a 10.8 percent increase in dividend to 2.05 francs per registered share at the 2019 Annual General Meeting scheduled for April 9.
Sika, which headed off a hostile takeover attempt by France’s Saint-Gobain in 2018, opened 11 new factories and bought four companies last year.
The company in January agreed to buy rival Parex in a deal that values the French mortar manufacturer at 2.5 billion francs.
Sika is also interested in BASF’s construction chemicals business, although its Chief Executive Officer Paul Schuler has said a complete takeover would not be possible because of anti-trust concerns.
Sika posted full-year operating profit of 945.9 million francs, within its target range of 940 million to 960 million Swiss francs. The company had in January reported a 13.4 percent increase in full-year sales to 7.09 billion francs.
$1 = 1.0008 Swiss francs Reporting by John Revill in Zurich and Bhargav Acharya in Bengaluru; Editing by Rashmi Aich and Shreejay Sinha