The share price of catamaran and monohull manufacturer Fountaine Pajot fell sharply on Tuesday on the Paris Bourse following the publication of solid half-year results, which prompted profit-taking after its strong growth in recent months.

The group announced this morning that it had achieved a "good first half 2022/23", with dynamic sales growth of 23% to 111.4 million euros, boosted in particular by the latest launches.

Operating income came to 10.7 million euros, up 19.1% year-on-year, with net income (group share) up sharply to 7.8 million euros from 5.1 million a year earlier.

Given the level of activity in this first part of the year, the good level of orders to be delivered and accelerating production rates, Fountaine Pajot says it anticipates another year of growth, higher than that of 2021/22.

In view of the share price's sustained performance in recent months, there was some profit-taking this morning, even though the share has gained more than 18% since the beginning of April.

In early June, analysts at Portzamparc included the catamaran manufacturer in their list of preferred mid-cap stocks ('High Five'), noting in particular its lower valuation than its peers.

The share price is currently down 3.3% in a slightly lower Paris market (-0.3%).

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