By Giulia Petroni

Sika AG's shares rose Tuesday after it said that fourth-quarter sales beat expectations, boosted by growth in the Americas.

At 0850 GMT, shares were trading 3.4% higher at CHF351.90.

The Swiss specialty-chemicals company's quarterly sales came in around 4% ahead of the latest company-compiled consensus, driven by organic progression on year, according to analysts at Jefferies.

In the full year, the company reported a record-high sales rise of 17% in local currencies to 9.24 billion Swiss francs ($9.97 billion) in spite of challenges associated with the pandemic and issues with the procurement of raw materials. The Americas region registered 21% growth in local currencies, driven by new projects and acquisitions.

"Sika's share price has had a tough start to the year, but today's update, which serves as a reminder of the company's quality and reliability of delivery, may be sufficient to trigger some recovery," Jefferies says.

The company also backed its earnings guidance for 2021, saying it aims for a higher earnings before interest and taxes margin of 15%-18%, and confirmed its strategic goals for 2023.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

01-11-22 0406ET