Bechtle shares jump more than 5%, profits beat
German IT firm Bechtle has confirmed its annual forecast after a solid second quarter. IGTV’s @AngelineOng takes a look at why investors are pushing Bechtle shares to the top of the German midcap index this session.
(Video Transcript)
German firm tops Mid Cap Index
Taking a look at a particular German stock, Bechtle, after the company's Q2 results beat estimates.
Just take a look at the chart here on the IG platform, Bechtel currently in this session up around 2, actually it's more now, 5.75%, five and three-quarters of a percent after that result which impressed investors and also the company which is an IT firm confirmed that its outlook, annual outlook for sales growth was 5 to 10%.
What is the future for software and robotics?
In terms of its earnings before interest and taxes (EBIT), that rose 5.9%. The EBIT margin was also steady but at 6.2% and still above the consensus of 5.8%. German companies have been in focus recently because of all the weakening data out of China, a big consumer of German IT systems, software and also, of course, robotics for manufacturing systems.
This is just one of the companies that has shown resilience in the light of all the economic data that we've had coming out of China, Bechtel topping the German Mid-Cap Index this session.
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