February 16, 2018 / 6:06 AM / in 6 months

Swiss elevator maker Schindler reports in-line 2017 results on stable China demand

Feb 16 (Reuters) - Elevator and escalator manufacturer Schindler Holding AG reported full-year results on Friday that were in line with estimates as it was able to grow in both new installations and in services, with a more stable demand in China.

After two years of decline, the overall market demand for new installations returned to growth, the company said.

Net profit climbed 7.4 percent to 884 million Swiss francs ($961.7 million), slightly above the 880 million francs estimated in a Reuters poll.

Orders for 2017 rose 5.9 percent to 10.99 billion francs, marginally beating the poll average of 10.95 billion francs.

For fiscal year 2018, Schindler again expects revenue growth to be between 3 pct and 5 percent in local currencies. ($1 = 0.9192 Swiss francs) (Reporting by Bartosz Dabrowski; Editing by Amrutha Gayathri)

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