Akwel has reported a tenfold increase in net income, Group share, to 19.2 million euros for the first half of 2023, with recurring operating margin improving by 2.1 points to 5.7% of sales.

The automotive equipment supplier saw sales rise by 11.8% (+16.2% on a like-for-like basis) to 545.8 million euros, a "level of activity approaching pre-crisis performance".

Akwel anticipates sales growth of around 10% for the year. Thanks to its first-half performance and better control of costs and selling prices, Akwel also expects to improve its operating profitability.

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