Exel Industries gains more than 2% after announcing sales of 297.9 million euros for the second quarter of 2022-23, up 20.4% (+18.8% on a like-for-like basis).

"Robust demand in our various end markets enabled us to apply price increases to offset inflation in our direct costs", explains the spray equipment manufacturer.

Nevertheless, Exel Industries warns that 'the inflationary environment and macro-economic uncertainties are prompting it to remain vigilant in controlling its costs and working capital requirements'.

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