Legrand Press release
Solid 2016 first-quarter achievements:
Healthy organic growth in sales: +1.9%, driven by US performance
Rise in adjusted operating profit: +3.7%
6 acquisitions since the beginning of the year
2016 targets confirmed
Gilles Schnepp, Chairman and CEO of Legrand, commented:
“Solid 2016 first-quarter achievements
Driven by a particularly good relative performance at the start of the year in the United States, where organic growth stood at +6.9%, Group sales at constant scope of consolidation and exchange rates rose +1.9% in the first quarter of 2016. Over the same period, organic change in sales was flat overall in mature European countries and in new economies.
Taking into account the exchange-rate effect and acquisitions, Group sales were up +2.1% in total.
Adjusted operating profit rose +3.7% and adjusted operating margin before acquisitions (at 2015 scope of consolidation) stood at 19.2% of sales compared with 18.8% in the first quarter of 2015. Taking acquisitions into account, adjusted operating margin came to 19.1% in the first quarter of 2016...
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