Faurecia says its sparkling half year results are “in line” with expectations following a difficult period in which it posted negative numbers.
The French supplier saw an 82% increase in first half consolidated net income to EUR186m (US$267m) and a 19% rise in H1 sales to EUR8.15bn.
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“It was in line with expectations and in line with the consensus expected by analysts,” a Faurecia spokesman in Paris told just-auto. “Faurecia started very low in the negative for many years – for five consecutive years – we were very positive and confident to reach what we announced yesterday (26 July).
“When we look at the 14 analysts, we were very close to their expectations. We are ahead of the plan.”
The company also batted back speculation it might be interested in German interiors supplier Grammer.
“There is no question Faurecia would make any kind of offer with Grammer,” said the Faurecia spokesman. “Faurecia is not interested at the moment in making further significant acquisitions.
“We are shifting our focus to organic growth which is where resources are needed.
Faurecia said its strong result for the first-half means it is now one year ahead of schedule in its 2010-2014 plan presented in June 2010.
