May 16, 2019 / 5:58 AM / 2 months ago

Wienerberger confirms outlook as it swings back to net profit

VIENNA (Reuters) - Austria’s Wienerberger confirmed its full-year outlook as an early start of the construction period this year, price adjustments and efficiency gains helped it to swing back to a net profit in the first quarter, it said on Thursday.

Net profit in the three months through March increased to 26.8 million euros (23.4 million pounds) after a loss of 19.6 million euros in last year’s period, the brickmaker said.

Wienerberger sees ongoing stable or slightly increasing demand for the business year as a whole and confirmed its 2019 target of adjusted earnings before interest, tax, amortisation and depreciation of 560 to 580 million euros after 470 million in 2018.

Reporting by Kirsti Knolle; Editing by Tassilo Hummel

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