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Plastic Omnium: a fine year in 2017; coupon raised 37%

(CercleFinance.com) - The automotive supplier Plastic Omnium has reported strong sales growth, with significant earnings growth, as well as a rise in its forthcoming dividend (+37%), believing that 2018 is off to a good start.
Management has also confirmed its medium-term forecasts.

Fiscal year 2017 was initially marked by strong growth: at 6.8 billion euros, consolidated sales rose by 15.6% as reported. Organic growth remains high: +9.6%, after +10.1% over the first nine months of the year. Including sales at joint ventures, "economic turnover" reached eight billion euros.

The group's operating profit rose 14.9% to 641 million euros, meaning a margin of 9.5% as reported, but up 50 basis points on a pro-forma basis. The utilisation rate of factories reached 85%.

Finally, net income, group share, increased by 36.2% to 425.5 million euros. At the group's AGM, it will propose a 37% increase in its 2017 dividend to 0.67 euro per share.

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