Exel Industries is down by more than 3% following the publication of net income of 4.2 million euros for its first half of 2022-23, compared with 1.9 million a year earlier, with a current operating margin improved by 1.5 points to 3.3%.

Sales rose by 18.7% to 483.1 million euros (+16.1% on a like-for-like basis), with growth driven in particular by its agricultural spraying and beet harvesting activities.

In addition to 'a slight easing in supply chains and strong volume growth in agricultural equipment', CEO Yves Belegaud highlights 'a solid order book, offering good visibility over the coming quarters'.

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