August 22, 2017 / 5:03 AM / a month ago

BRIEF-Huber+Suhner H1 net income down 27.5 pct at CHF 23.9 million

Aug 22 (Reuters) - HUBER+SUHNER AG:

* H1 NET SALES INCREASED DYNAMICALLY TO CHF 410.7 MILLION (+7.7 %)

* H1 EBIT DECLINED TO CHF 32.8 MILLION (−21.8 %)

* H1 NET INCOME AMOUNTED TO CHF 23.9 MILLION (PREVIOUS YEAR CHF 33.0 MILLION), DOWN 27.5 % YEAR-ON-YEAR

* COMPARED TO VERY DYNAMIC FIRST HALF OF THE YEAR, A SLIGHTLY LOWER BUSINESS VOLUME IS ASSUMED FOR THE SECOND HALF

* EXPECTS GROWTH OF AROUND 5 % IN 2017 COMPARED TO THE PREVIOUS YEAR, ASSUMING THE CURRENCY SITUATION REMAINS SIMILAR

* FY EBIT MARGIN IS LIKELY TO BE IN THE LOWER HALF OF THE MID-TERM TARGET RANGE OF 8–10 % Source text: bit.ly/2xne2B4 Further company coverage: (Gdynia Newsroom)

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