August 23, 2017 / 5:35 AM / a month ago

BRIEF-Lenzing's first-half profit on target for considerably better 2017

Aug 23 (Reuters) - Lenzing Ag says H1

* H1 revenue up 11 percent to eur 1,149.1 mn

* EBITDA increase of 38.8 percent to eur 270.7 mn

* Detailed planning for new production plant for tencel® fibers in Thailand in progress

* New sales offices opened in Turkey and Korea

* Expects a considerable improvement in results in fiscal year 2017 compared to 2016

* Assuming that fiber market conditions remain at current levels, we expect a substantial earnings improvement in 2017 compared to 2016

* Aims to increase share of specialty fibers as a percentage of revenue to 50 percent by 2020

* Decision on constructing new production plant in Thailand will be made in q1 of 2018. Completion is scheduled for end of 2020

* The profit for the period improved by 58.9 percent to EUR 150.3 mn, and earnings per share climbed 59 percent to EUR 5.55 per share Source text for Eikon: Further company coverage:

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