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Construction chemicals maker Sika annual profit jumps 27%

(Reuters) – Sika reported a 27.1% jump in full-year net profit on Friday, as the Swiss construction chemicals maker benefited from an upturn in building projects after the pandemic and a raft of acquisitions.

The company, which makes products used in reinforcing and waterproofing concrete, posted earnings before interest and tax (EBIT) of 1.39 billion Swiss francs ($1.51 billion) for the 12 months ended Dec. 31, up from 1.13 billion Swiss francs in 2020.

The figure exceeded the pre-pandemic level of 1.06 billion franc operating profit for 2019.

($1 = 0.9210 Swiss francs)

© Reuters. FILE PHOTO: The logo of Swiss chemical group Sika is seen on barrels at the company’s headquarters in Zurich, Switzerland October 7, 2021. REUTERS/Arnd Wiegmann

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