Sika Posts Higher Annual Profit

Sika AG SKFOF reported a 28% gain in its profit for the 12 months to December 31. Sika's annual net profit climbed to 441.2 million Swiss francs ($463.5 million), versus a year-ago profit of 344.7 million francs. Analysts were expecting a profit of 414 million francs. Its sales surged 8.3% to 5.57 billion francs, compared to 5.14 billion francs. EBIT climbed 21% to 633.2 million Swiss francs. The company's board proposed a rise in its dividend by 26% to 72 francs per bearer share from 57.00 Swiss francs and by 26% to 12 francs per registered share from 9.50 Swiss francs. CEO Jan Jenisch said, "Our record year in 2014 is the result of our strategic continuity and the expertise and commitment of our 16,895 employees. Their energy, ideas and active embodiment of the Sika Spirit have taken Sika to the next level of performance."