Hexagon beats expectations in third quarter, signs new deal
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Hexagon beats expectations in third quarter, signs new deal

Geospatial measurement and industrial technology company Hexagon AB reported third quarter earnings in October that beat analysts’ expectations. The company said that organic growth in the quarter came in at 6%, year on year – higher than the 4% Wall Street was expecting.

Driving performance through the period was the company’s major geospatial measurement segment, which reported organic growth of 9% against the year-ago quarter. China was also a standout region for the group, where it saw growth increase by 19% (the U.S. managed a respectable 8% growth).

Hexagon’s share price has appreciated by 32% so far this year

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SOURCE: Yahoo Finance

The company also revealed other news earlier this month, saying that it would be working with the Telangana government and the Confederation of Indian Industry (CII) to create a center of excellence on smart manufacturing in the region. The goal of the center will be to create a leading platform to encourage high quality manufacturing that uses a minimum of resources like energy and water, and generates less waste.

Hexagon will also help the Telanganian government to increase the quality of the regions internet, providing an “optic fiber cable network analysis and optimisation” on a soon-to-be installed cable. This cable will run along the 150,000 km water pipeline that’s in the process of being created, and could cut the state’s broadband connectivity project cost by as much as 70% to 80%.

Disclosure

Dominion holds Hexagon AB in its Global Trends Managed Fund.


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