Paris, France: French temperature-controlled giant Stef has reported “satisfactory” half-year results with revenue up 23% from €1.64bn to just over €2bn.
But Stef expects activity to slow in the coming months.
Pre-tax profit jumped 36% to €87.3m.
Stanislas Lemor, chairman and chief executive, said: “After a dynamic post-Covid recovery cycle that enabled the group to post solid half-year results, we are faced with an acceleration in inflation, which is weighing heavily on our operating expenses, combined with an unprecedented surge in energy prices, particularly electricity. In this increasingly uncertain environment, the group is preparing for the slowdown in activity in the coming months.”
The group said that it was continuing to integrate the companies it had acquired since 2021, which includes Langdons. “In the United Kingdom, the group continued to integrate Langdons, acquired on 31 December 2021, which performed well in a highly competitive market,” said the group.
Stef addressed the business outlook for the group, warning that it “remains vigilant” for the second half of the year, due to the complex geopolitical and economic environment.
