Westag & Getalit AG announced earnings results for the first quarter ended March 31, 2016. The company increased its sales revenues by an impressive 7.3% to EUR 59.9 million in the first quarter of 2016 compared with EUR 55.8 million a year ago. The company primarily benefited from the good business climate in the housing construction sector at the beginning of the year. Earnings before taxes (EBT) climbed from EUR 2.5 million in 2015 to EUR 2.6 million as of March 31, 2016. Moving in sync with EBT, net profit for the period increased by 5.1% from EUR 1.7 million to EUR 1.8 million. Net profit per share amounted to EUR 0.31 for the ordinary shares compared with EUR 0.29 a year ago.

The company projects a moderate increase in sales revenues and earnings for 2016 based on the assumption that the economic environment will remain unchanged.