1H21 results from Neodecortech (NDT) confirmed the trend of the first quarter. Revenue was up 41% vs. 1H20, but, more tellingly, it was up 21% vs. 1H19, demonstrating the strength of NDT’s new products and its European markets. That strength has continued into 3Q. We have raised our revenue forecasts significantly, as well as our earnings forecasts, although there is some offsetting of additional costs, as the price of energy and raw materials has risen sharply.
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