Swiss Sika Q1 sales dip 1.1% on delays in construction projects

16 April 2013 06:20  [Source: ICIS news]

SINGAPORE (ICIS)--Sika’s first-quarter sales fell by 1.1% year on year to Swiss franc (Swfr) 1.04bn ($1.12bn), dragged down by a weak performance in North America and Europe, the Switzerland-based firm said on Tuesday.

In local currencies, the company’s sales slipped by 0.2% year on year in January-March this year, the company said in a statement.

Sika supplies specialty chemicals to the building and construction industry as well as manufacturing industries.

Cold weather conditions in Europe and North America halted “a large number” of construction projects, Sika said.

“For the current year, Sika assumes that the construction projects held up by the wintry weather will get back on track and be brought to completion,” it said.

“Sika affirms the [sales] growth targets of 4% to 6% in local currencies it announced for 2013,” the company said.

($1 = Swfr0.93)

By: Nurluqman Suratman

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