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Imerys: tops the SBF 120, with first signs of recovery

( - Imerys reported 'solid' Q1 results on Thursday and said it was seeing the first signs of a recovery in demand.

The industrial minerals specialist said that its adjusted Ebitda had risen by 9% to E188m, as a result of its cost-cutting measures, above Oddo BHF's earnings forecast of E166m.

Sales totalled E926m, down 5.3% LFL y-o-y, but the group is still pointing to a 'gradual' recovery in its markets.

We believe that we have turned a corner and expect a positive impact from lower interest rates in H2, management said.

In their reaction note, analysts at Oddo BHF spoke of the start of a long-awaited revival, believing that a 'low point' had now been reached.

Up around 10%, the share was the biggest riser on the SBF 120 index on Thursday.

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