Firm rise in earnings for the first half of 2007
Whether performances are judged on sales or profitability, Legrand had an excellent first half. A highlight was the pursuit of vigorous sales growth on emerging markets, where the overall rise at constant scope of consolidation and exchange rates was close to 18%. At the same time, a combination of strong growth in total sales and effective cost controls enabled Legrand to achieve an appreciable improvement in profitability while continuing integration of recent acquisitions. Finally, in the first half these good results enabled the group to finance acquisition-driven growth as well as distribute a €133 million dividend to shareholders and net buy back 4.1 million own shares for a total of €103 million.