Schindler: down a floor after H1 results
(CercleFinance.com) - The share of elevator manufacturer Schindler is down 4.
2% in Zurich, after the group published a 15% fall in net profit to 436 million Swiss francs, hence falling about 2% below the consensus.
The group's operating profit slipped 3% to 596 million Swiss francs, despite revenues that are up 3.3% and a 3.8% increase in its order intake (respectively +5.4% and +5.8% in local currencies).
“Operating profit was impacted by wage inflation, higher material costs, foreign exchange, as well as the planned acceleration in strategic projects expenditure,” the company said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
2% in Zurich, after the group published a 15% fall in net profit to 436 million Swiss francs, hence falling about 2% below the consensus.
The group's operating profit slipped 3% to 596 million Swiss francs, despite revenues that are up 3.3% and a 3.8% increase in its order intake (respectively +5.4% and +5.8% in local currencies).
“Operating profit was impacted by wage inflation, higher material costs, foreign exchange, as well as the planned acceleration in strategic projects expenditure,” the company said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.