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Rexel: recurrent earnings up 16.4% in 2017

(CercleFinance.com) - Rexel has posted 2017 recurrent net income that is up 16.
4% at 291.2 million euros, with adjusted EBITA that is up 6.1% at 580.1 million euros, on sales that are up 1.1% at 13,310.1 million euros (+3.5% on a comparable and same-day basis).

The distributor of electrical equipment will offer a dividend of 0.42 euro per share, two cents higher y-o-y, representing 44% of its recurrent net income (against 48% the previous year). This dividend will be paid in cash in early July 2018.

At a comparable consolidation scope and exchange rates, Rexel targets single-digit sales growth of less than 5% (at a constant number of days), adjusted EBITA growth of between 5% and 10%, with a continued improvement in the group's gearing.

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