August 26, 2019 / 4:09 AM / a month ago

BRIEF-Schaffner Group Adjusts Expectations For Current Fiscal Year

Aug 26 (Reuters) - Schaffner Holding AG:

* SCHAFFNER GROUP ADJUSTS EXPECTATIONS FOR CURRENT FISCAL YEAR

* EXPECTS A SEQUENTIAL SALES DECLINE IN MID-SINGLE-DIGIT PERCENTAGE RANGE IN H2 OF 2018/19 COMPARED TO H1 OF FISCAL 2018/19

* EXPECTS AN EBIT MARGIN OF AROUND 5% FOR FULL FISCAL YEAR 2018/19

* MID-TERM GOAL REMAINS AN ORGANIC SALES INCREASE OF AROUND 5% PER ANNUM ON AVERAGE & EBIT MARGIN WITHIN TARGET RANGE OF 8 TO 10%.

* ADJUSTS FY EXPECTATIONS DUE TO SIGNIFICANT SLOWDOWN IN MOMENTUM IN KEY SUBMARKETS, WEAK AUTOMOTIVE ECONOMY, CURRENT EXCHANGE RATE SITUATION Source text for Eikon: Further company coverage:

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