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News Sika’s net profit hit by coronavirus

Sika’s net profit hit by coronavirus

Written by Global Gypsum staff
27 July 2020
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Switzerland: Sika recorded a net profit of Euro257m in the first half of 2020, down by 17% year-on-year from Euro308m in the first half of 2019. Net sales were Euro3.37bn, down by 3.2% from Euro3.48bn. Sika attributed the sales decline to negative currency effects. Decreased sales volumes in March 2020 through to May 2020 as a result of the coronavirus outbreak hampered profitability, according to the company. It said that the end of lockdowns in markets across the globe brought a return to organic growth in June 2020.

Published in Global Gypsum News
Tagged under
  • Sika
  • Results
  • coronavirus

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