July 6, 2020 / 7:57 AM / a month ago

Geberit sees improved situation since mid-May, some project cancellations

ZURICH, July 6 (Reuters) - Geberit on Monday said it had seen an improvement in sales since COVID-19 lockdown measures were eased in mid-May, with demand almost back at the previous year’s level at the end of June.

“The situation has improved since mid-May, construction sites are now largely open,” Chief Executive Christian Buhl told investors and reporters on a call on Monday after the plumbing supplies company posted a 16% drop in quarterly sales.

He said, however, that demand was still volatile and project delays and cancellations could have a negative impact later in the year.

Reporting by Silke Koltrowitz Editing by Michelle Martin

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