ZURICH, April 11 Swiss construction chemicals
maker Sika expects sales to exceed 6 billion Swiss
francs this year after it generated 10.7 percent local currency
growth in the first quarter, it said ahead of its annual general
meeting on Tuesday.
Sika is involved in a long-running takeover battle, in which
the group's management is trying to block the founding family's
sale of its controlling stake to French group Saint-Gobain
Sika said it was targeting a 6-8 percent rise in sales to
more than 6 billion Swiss francs ($5.95 billion) and an increase
in earnings before interest and tax and net profit "at a
disproportionately high rate".
"The strong start to the year is the result of our
successful strategy implementation," Chief Executive Jan Jenisch
said in a statement, adding the company would implement its
growth model with raised targets for 2020.
Sika management and its founding family, the Burkhards, are
set to clash at the AGM over the board's proposal to raise the
dividend. The family wants a smaller increase.
($1 = 1.0090 Swiss francs)
(Reporting by Silke Koltrowitz; Editing by Michael Shields)