Belron Attributes Same-Store Growth Largely to U.S.

Belron’s organic sales from continuing operations grew 6 percent in the first quarter thanks in large part to continued market gains in the United States, according to D’Ieteren’s first quarter update.

Belgium-based D’Ieteren owns Belron, which in turn owns Safelite AutoGlass in the U.S.

“Double-digit organic sales growth in the U.S. underpinned the rise in Belron’s top line in the first quarter of 2016,” according to the company’s report. “In Europe, organic sales growth was positive if one excludes AutoRestore’s divested operations in the United Kingdom.”

Belron’s management continues to analyze opportunities to enter new service markets, according to the report.

D’Ieteren Auto’s sales grew by 1 percent and the company expects market share to increase for the remainder of the year.

Looking to the full year, the D’Ieteren “aims for a stable or slightly lower current consolidated result before tax, compared to $237.6 million in USD (€212.1 million in Euros) in 2015.”

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