November 7, 2018 / 6:45 AM / 12 days ago

Voestalpine's H1 profit drops 19 pct on lower demand from car industry

VIENNA, Nov 7 (Reuters) - Austrian speciality steelmaker Voestalpine said first-half net profit fell 19 percent largely due to decreasing demand from the auto industry and an unplanned shutdown of a U.S. plant.

Net profit in the six months through September came in at 316.2 million euros ($361.9 million) on sales of 6.67 billion euros, the group said.

The group issued a profit warning last month, reducing its full-year EBIT target to just under 1 billion euros from around 1.18 billion euros.

$1 = 0.8737 euros Reporting by Kirsti Knolle; Editing by Gopakumar Warrier

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