Belgium: Etex has reported 'top line' growth for its Etex Building Performance division, particularly in France, Poland, and the UK. Outside of Europe the group said that its South Africa market is suffering from political instability whilst sales in Peru grew, thanks to a new housing concept that was successfully launched.
Overall the group's half-year revenue rose by 3.9% year-on-year on an adjusted basis to Euro1.41bn in the first half of 2017. It reported sales of Euro1.48n in the same period in 2016 but the sale of its ceramic floor and wall tiles business in Latin America in September 2016 had an impact upon its results. Its operating income rose by 4.2% to Euro125m from Euro119m.
In July 2017 Etex reach an agreement to become the majority shareholder of Pladur, a Spanish manufacturer of gypsum products. The deal, subject to customary closing conditions, is expected to complete by the end of 2017.
