By Nathan Allen

Schneider Electric SE (SU.FR) said Thursday that it posted a record net profit in 2017, driven by accelerating sales and increases in productivity as well as efficiency.

Net profit at the French supplier of electrical equipment rose 23% to 2.15 billion euros ($2.66 billion) last year from EUR1.75 billion in 2016, the company said.

A consensus compiled by FactSet had pegged net income at EUR2.12 billion

Revenue was EUR24.74 billion, compared with a restated figure of EUR24.46 billion a year earlier, and narrowly missing a FactSet-compiled consensus of EUR24.78 billion.

Fourth-quarter revenue fell slightly to EUR6.67 billion, due in part to a EUR341-million foreign-exchange hit, which offset the positive impact of acquisitions, Schneider said.

The company declared a dividend of EUR2.20, up 8% on year.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 15, 2018 01:18 ET (06:18 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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