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Schindler raises 2020 guidance on China boost

Oct 23 (Reuters) - Swiss elevator and escalator manufacturer Schindler raised its full-year revenue and net profit guidance on Friday, citing increased activities in key markets, including China.

The company raised the lower range of its 2020 revenue outlook and now sees a 0-3% decline in sales, compared to the previous outlook of a 0-6% fall. It sees full-year net profit of 720-760 million Swiss francs ($793-$837 million), compared to the previous forecast of 680-720 million francs.

Schindler’s third-quarter net profit fell 3.7% from the previous year to 235 million francs. ($1 = 0.9077 Swiss francs) (Reporting by Bartosz Dabrowski in Gdansk; Editing by Muralikumar Anantharaman)

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