LONDON (ShareCast) - Schneider Electric reported a 5.8 percent increase in 2011 net income to 1.82bn euros with earnings per share rising 9 cents to 3.39 euros.

Sales last year grew 14% to €22.39bn, while operating margin fell from 15% in 2010 to 14.2%, due to pressure from “record raw material inflation and major supply chain disruptions.” This last figure compares to the company’s own forecast of 14%.

For 2012, the energy manager warned that uncertainty surrounding the global economy hampers visibility. Although the group expects continued strength thanks to the recovery in North America, it expects Western Europe to weigh on growth.

In this context, the company expects “flat to slightly positive” organic sales growth for the current year.

Schneider was the second biggest rise on the CAC in early morning trade, up 5.46% at €50.45.

J.M.

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