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Bekaert: stock up after FY results announced

(CercleFinance.com) - Bekaert is jumping 6.
7% in Brussels this morning, the sharpest riser in the Bel20 index, with investors hailing the presentation of FY 2017 attributable income that is up 76% at 185 million euros, representing EPS of 3.26 euros.

The Belgian specialty materials group has posted underlying EBIT of 301 million euros, representing a margin that is down 0.9 point at 7.3% on consolidated turnover that is up 10% at 4.1 billion euros.

Its Board of Directors will propose a stable gross dividend of 1.10 euro per share for 2017. Bekaert continues to believe that improvements in its business will enable it to increase its underlying EBIT margin to 10% over the medium term.

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