As exchange rate differences were in balance, the currency adjusted growth rate is the same. Compared to the prior year, the course of operations in the first two quarters experienced strong fluctuations. In particular, sales were below expectations during the month of June. Higher prices of raw materials were set off by ongoing internal efficiency improvements. The reasons for this strong increase are the improvement of the operating result and the absence of non-recurrent refinancing costs of the second quarter 1999 as well as the further reduction of current interest expenses.
Management anticipates an overall positive development for the second half of the year.
Net income is expected to rise by approx. As European market leader the Geberit Group is a global provider in the area of sanitary technology and employs a staff of approx. 2001 Geberit AG - Use of this website as stated in our legal statement.