STÜHLINGEN (dpa-AFX) - Insulation materials and paints manufacturer Sto reported lower sales in the first quarter due to bad weather. The gross profit margin also did not develop as well as hoped, even though it improved compared to the previous year. Sales fell by just under two percent to around 362 million euros, the SDax-listed company announced in Stühlingen on Wednesday. The gross profit margin - that is, the proportion of sales that remains after deducting all manufacturing and material costs - had risen by 0.9 percentage points to 50.6 percent. However, this was less than expected.

In April, the profit margin remained below the previous year's level and expectations. The unfavorable weather conditions in many countries where Sto operates continue to be mainly responsible for this. "Sto intends to at least offset the current and past burdens from procurement in the previous year through further sales price increases of its own over the course of the year," the statement continued. Despite the weak start to the year, the company confirmed its sales and earnings forecast for the current year./zb/mis