October 23, 2018 / 5:20 AM / a month ago

Swiss elevator maker Schindler's Q3 net profit growth slows down to 0.4 percent

Oct 23 (Reuters) - Swiss elevator and escalator maker Schindler said on Tuesday its third-quarter net profit growth slowed down to 0.4 percent, hurt by foreign exchange headwinds.

The net profit of 230 million Swiss francs was below the average of 240 million francs expected by analysts in a Reuters poll.

Foreign exchange effects impacted operating profit negatively by 10 million francs, the company said in a statement.

Sales advanced 3.6 percent to 2.68 billion francs, compared with the poll average of 2.72 billion. Orders for July-September rose 1.7 percent to 2.78 billion francs.

The company reaffirmed its full-year outlook of revenue growth of 5 percent to 7 percent and net profit in the 960 million to 1,010 million francs range. (Reporting by Bartosz Dabrowski; Editing by Vyas Mohan)

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