(Updating with further details)
VIENNA (Thomson Financial) - Austria's RHI AG said EBIT in the second
quarter rose over 30 percent to a consensus beating 51.2 million euros, and
expects positive growth rates in its steel and industrial segments to continue
in the second half of the year as a result.
This compares with consensus EBIT of 45 million euros.
RHI attributed strong overall growth in core earnings and EBIT margin, which
increased to 12.3 percent over the quarter, to continued high demand in steel
and cement industries.
Revenues over the second quarter grew 13 percent to 415 million euros
compared with 366.4 million in the same quarter a year before, the refractories
company said.
Analysts had expected to see revenue for the three-month period of just over
400 million euros.
Going forward, RHI said it expects business to profit further from the
continued "good level" of orders.
Thanks to the supply of its own raw materials, RHI added, it will not be
impacted by high costs or shortages in raw materials.
EPS over the period to June 30 rose to 0.92 euros a share versus 0.62 euros
in the same quarter a year before.
The share closed Wednesday on the ATX index at 29.60 euros, up 1.54 percent
on the day.
fiona.flanagan@thomsonreuters.com
ff/sal/ff/sal
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