March 22, 2019 / 5:10 AM / 3 months ago

BRIEF-Schaffner Adjusts FY Forecast Due To Changed Economic Environment

March 22 (Reuters) - Schaffner Holding AG:

* SCHAFFNER GROUP ALIGNS EXPECTATIONS FOR CURRENT FISCAL YEAR

* EXPECTS NET SALES FOR CURRENT FISCAL YEAR TO BE BELOW LAST YEAR'S LEVEL, DUE TO CHANGED ECONOMIC ENVIRONMENT

* MEDIUM-TERM TARGET RANGE FOR GROUP'S EBIT MARGIN OF 8 TO 10% IS UNLIKELY TO BE ACHIEVED ALREADY IN CURRENT FISCAL YEAR

* ADJUSTMENT IN FY FORECAST DUE TO LOWER SALES IN AUTOMOTIVE DIVISION DUE TO PRESENT WEAKNESS OF GLOBAL AUTOMOTIVE MARKET AND CHINA SLOWDOWN Source text for Eikon: Further company coverage:

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