SYZYGY grows by 4 per cent in the first quarter and confirms forecast for 2018

The SYZYGY Group started the 2018 financial year with sales growth of 4 per cent compared with the same period of the previous year. Sales increased to EUR 15.4 million.

Operating income (EBIT) rose by 10 per cent to EUR 1.1 million. The EBIT margin remained unchanged at 7 per cent compared with the previous year. Pre-tax income was EUR 1.3 million. Given a tax rate of 27 per cent, net income was EUR 0.9 million. This represents earnings per share of EUR 0.07 (previous year: EUR 0.09).

Liquid funds and securities totalled EUR 19.5 million at the balance sheet date, corresponding to cash holdings of EUR 1.45 per share.

The SYZYGY Group is confirming its forecast for 2018 and expects double-digit sales growth in the current financial year, with a rise in the EBIT margin in the upper single-digit range.