MAINTAL (dpa-AFX) - Joining technology specialist Norma Group grew in the second quarter thanks to an upturn in demand from the automotive industry and price increases. This more than made up for lower demand in the water management segment, the SDax-listed company announced in Maintal on Tuesday. Also, more of the sales remained as adjusted operating profit than a year ago. The group confirmed its targets for the year. To make the company more profitable, Norma Group had launched an efficiency and growth program.

Sales increased by 1.9 percent year-on-year to 324 million euros. Under its own steam - i.e. adjusted for currency effects and acquisitions and disposals of businesses - the company grew by four percent. Adjusted earnings before interest and taxes (adjusted EBIT) rose by 21.2 percent from April to June to just over 27 million euros. The corresponding margin improved from 7 percent in the previous year to 8.4 percent. The bottom line was a profit of 10.6 million euros - compared to 10.0 million euros in the previous year./mne/mis