August 17, 2018 / 5:13 AM / a year ago

Schindler raises FY revenue guidance as Q2 orders beat consensus

Aug 17 (Reuters) - Swiss elevator and escalator maker Schindler Holding reported on Friday better-than-expected order intake in the second quarter on strong growth across its markets, and raised its full-year revenue growth outlook.

Orders grew 11.2 percent to 3.05 billion Swiss francs ($3.06 billion) for the April-June period, beating expectations of 2.93 billion francs, in a Reuters Poll.

Quarterly net profit grew 28.3 percent to 308 million francs, which was above 301 million francs estimated by analysts.

The company now expects a 5-to-7 percent growth in full-year revenue as positive market trends in the first half are likely to continue in the second half of the year.

Schindler expects net profit to reach 960 million francs to 1,010 million francs for the financial year 2018, compared with last year’s 884 million francs. ($1 = 0.9969 Swiss francs) (Reporting by Bartosz Dabrowski; Editing by Amrutha Gayathri)

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