(Boursier.com) — Imerys rose 0.6% to 34.65 euros on Friday, while the broker Berenberg marginally adjusted the target from 50 to 51 euros while remaining buying on the file. The group’s Q1 recurring operating profit increased by 14.6% compared to last year, to 105 million euros. Net current income from continuing operations was up 12.2% to €68 million.
“While weak demand in some markets, particularly construction and industrial applications, is expected to continue over the coming months, recent market data indicates that the Chinese economy and automotive market appear to be on the road to a solid recovery, and that mobile energy, which was weak in the first quarter, should return to sustained growth,” explained Imerys. In this “volatile and uncertain” context, Imerys intends to remain focused on cost and cash management in order to protect its profitability, while continuing to make progress in its strategic plan towards its organic growth and current EBITDA margin objectives. medium term.
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