Legrand reported mixed results this morning with declining margins over the first quarter. This was mainly due to the French market which posted weak organic sales mainly due to destocking over the period. After a strong performance year-to-date (+33%), we see more room for consolidation following the disappointment in margins.
02 May 2019
Mixed Q1 results, disappointing margins
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Mixed Q1 results, disappointing margins
Legrand SA (LR:WBO) | 0 0 0.6% | Mkt Cap: 16,627m
- Published:
02 May 2019 -
Author:
Luis Pereira -
Pages:
2
Legrand reported mixed results this morning with declining margins over the first quarter. This was mainly due to the French market which posted weak organic sales mainly due to destocking over the period. After a strong performance year-to-date (+33%), we see more room for consolidation following the disappointment in margins.