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Ontex: stock battered after annual results

(CercleFinance.com) - The Ontex Group share is down 5.
4% in Brussels today, the sharpest faller of the Bel20 index, abandoned by investors after the manufacturer of hygiene products posted 2017 adjusted EPS that was down 6.8% at 1.65 euro.

Adjusted EBITDA increased by 7.1% to 266.4 million euros, meaning a margin of 11.3% on sales that are up 18.2% at 2.36 billion euros (+5.5% on a comparable basis), thanks to strong demand for its products.

The group's Board of Directors will propose a dividend of 0.60 euro per share for 2017, up by 0.05 euro. In difficult markets, we expect a better balance between sales and profitability in 2018, the Belgian group said.

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