BERLIN, March 12 (Reuters) - Geberit reported higher than expected net profit in the fourth quarter, the plumbing supplies maker said on Tuesday, forecasting a challenging year due to political uncertainties.
“Italy is assessed more cautiously due to political circumstances, while a downward trend is foreseeable in the United Kingdom as a result of the uncertainty in relation to Brexit,” Geberit said in a statement.
The Swiss company reported a decline in net profit by 5.6 percent to 104.5 million Swiss francs ($103.39 million) in the fourth quarter, beating analyst expectations for 102 million francs in a Reuters Data poll.
Geberit will propose a dividend of 10.80 francs, below an analyst consensus of 11.00 francs.
($1 = 1.0107 Swiss francs)
Reporting by Tassilo Hummel; editing by Thomas Seythal