CFE, parent AvH rise as both report solid H1 earnings
31/08/2022 10:17
** Shares of Belgian construction group CFE CFEB.BR and
its owner, investment firm Ackermans & Van Haaren (AvH)
ACKB.BR , jump after they report strong earnings growth in H1
** CFE soars 15%, on track for its best day since it started
trading as a separate entity last June, after posting a 43% jump
in H1 EBITDA to 27.8 million euros urn:newsml:reuters.com:*:nL8N3070PR
** KBC Securities says CFE posts a "solid update",
benefiting from a diversified portfolio of activities
** KBC points to CFE's strong pipeline of new projects and
deliveries through 2024 and to potential synergies, with unit
BPI Real Estate serving as an engine for further growth
** AvH shares jump 4%, headed for best day since February,
as its H1 net profit rises 68% to 278.4 million euros
urn:newsml:reuters.com:*:nFWN3061LA
** While all AvH's segments showed resilience despite tough
macro environment, its performance in private banking is
particularly impressive, KBC says
** "We also believe that management is correctly steering
the company during these testing times and that they have a
resilient portfolio to rely upon," KBC says on AvH
($1 = 1.0016 euros)
(Reporting by Dagmarah Mackos)
((Dagmarah.mackos@tr.com))