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Fluidra ups guidance after taking over US pool equipment maker SR Smith

Fluidra ups guidance after taking over US pool equipment maker SR Smith

reuters.com · 09/01/2021 03:14
Fluidra ups guidance after taking over US pool equipment maker SR Smith

- Spain's Fluidra FLUI.MC, the world's largest swimming pool equipment maker, on Wednesday raised its sales and profitability outlook for this year after announcing a $240 million acquisition of U.S.-based company SR Smith.

The Spanish company said its sales should rise between 37% and 42% this year, up from a previous guidance of range of 35%- 40%, while it sees its earnings per share soaring 83%-93%, up from 80%-90% expected previously.

Fluidra said the acquisition of SR Smith, which makes pool slides, ladders and rails as well as access lifts and diving boards, will complement the range of Fluidra's products and boost growth in North America.

Pool manufacturing and maintenance was among the few sectors to receive a boost from the COVID-19 pandemic as more people have chosen to splash at home, avoiding community pools and beaches.

As a result of higher demand for swimming pools, Fluidra's profit trebled in the first half of the year, while sales revenue rose more than 50%.


(Reporting by Inti Landauro, editing by Andrei Khalip)

((Inti.Landauro@thomsonreuters.com;))