Geberit reports stronger-than-expected 2022 net profit

March 08, 2023 05:11 PM AEDT | By Reuters
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ZURICH (Reuters) - Geberit posted stronger-than-expected net profit for 2022, the plumbing supplier said on Wednesday, as higher raw materials prices reduced profitability.

The maker of bathroom ceramics and piping saw annual income drop to 706 million Swiss francs ($749 million) from 756 million a year earlier, beating analyst forecasts for 668 million francs.

"A very challenging business year 2022 is behind the Geberit Group," the company said in a statement.

($1 = 0.9430 Swiss francs)

(Reporting by John Revill/Paul Carrel; editing by John Stonestreet)


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