Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

http://www.businessweek.com/news/2012-11-22/pegas-advances-to-one-month-high-as-profit-jumps-prague-mover

Bloomberg News

Pegas Advances to One-Month High as Profit Jumps: Prague Mover

November 22, 2012

Pegas Nonwovens SA (PEGAS), a Czech maker of nonwoven textiles, rose to the highest level in about a month after reporting a 57 jump in third-quarter profit.

The shares rose less than 1 percent to 465 koruna in Prague, the highest level on a closing basis since Oct. 24.

Net income rose to 8.6 million euros ($11.1 million) in the third quarter while revenue increased 10 percent to 47.9 million euros, the Znojmo, Czech Republic-based company said in a regulatory statement today.

“The results were above our estimates and market consensus,” Josef Novotny, a Prague-based analyst at Ceska Sporitelna AS, wrote in a note. “We expect a positive market reaction today.”

The company expects an annual increase in earnings before interest, taxes, depreciation and amortization at the “lower” end of its forecast range of 5 percent to 15 percent, according to the statement.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus