Geberit’s sales drop on crisis

  • Construction
  • Tuesday, 07 Jul 2020

ZURICH: Swiss plumbing supplies company Geberit has reported a 15.9% drop in second-quarter sales and did not provide an annual outlook as construction activity declined during the coronavirus pandemic.

Geberit, whose products are used in new construction and renovation projects, is seen as an indicator for the broader construction sector.

Sales fell to 671 million Swiss francs (US$711.48mil) in the second quarter from 797 million francs a year earlier, the company said, adding that sales adjusted for currency swings were still down 10.7%. — Reuters

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