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BRIEF-Progress Werk Oberkirch FY net income up at 9.5 mln euros
February 22, 2017 / 7:08 AM / 6 months ago

BRIEF-Progress Werk Oberkirch FY net income up at 9.5 mln euros

Feb 22 (Reuters) - Progress Werk Oberkirch AG:

* Fully meets 2016 forecasts and plans to continue strong growth in 2017

* FY EBIT including currency effects totaled 19.7 million euros ($20.73 million)(p/y: 18.1 million euros)

* FY group's revenue and total output increased only moderately to 409.6 million euros (p/y: 404.6 million euros) and 423.5 million euros(p/y: 413.3 million euros), respectively

* FY net income for period reached 9.5 million euros (p/y: 7.5 million euros), earnings per share equaled 3.05 euros (p/y: 2.41 euros)

* Expects 2017 revenue excluding material price effects to grow to roughly eur 430 million

* Progress werk oberkirch - anticipates 2017 disproportionate rise in EBIT before currency effects to 23 mln to 24 million euros

* 2017 outlook: net income for period should increase even more due to expected continued decline in burdens from financial result and tax rate Source text for Eikon: Further company coverage: ($1 = 0.9501 euros) (Gdynia Newsroom)

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