By Yifan Wang
Sika AG on Friday posted record sales for the first nine months of the year, thanks to market-share gains in all its geographic markets.
The Swiss specialty-chemicals company's net profit was 765.1 million Swiss francs ($833.1 million), up 36% from a year earlier.
Net sales rose 18% to an all-time high of CHF6.86 billion, driven by double-digit sales growth in its markets around the world.
Sika said raw-materials costs were sharply higher during the period, but profitability pressure was mitigated by its efficiency enhancing measures and economies of scale.
The company backed its earnings guidance for 2021, expecting sales growth of 13%-17%. It also confirmed its outlook that the margin of earnings before interest and taxes would reach 15% for the first time this year.
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(END) Dow Jones Newswires