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| Schindler's 1Q profit rises  Swiss elevator and escalator maker Schindler said consolidated operating revenue reached CHF 3 338 million in the first quarter of 2008, which is a 4.9% increase on the first quarter of 2007 (+8.5% in local currencies). Consolidated net profit rose by 44.3% to CHF 166 million. The elevators and escalators business yielded an EBIT margin of 10.0% for the first time (previous year's first quarter 8.3%). Relative to the same period last year, orders received went up by 3.9% to CHF 2 310 million. In local currencies, the increase was 9.3%. spliter All market regions contributed to the growth. On the other hand, in some overheated markets there were declines in order bookings. These declines could be compensated thanks to several large orders in Asia and Latin America.Operating revenue rose by 2.9% to CHF 2 041 million (+8.3% in local currencies). Operating profit (EBIT) increased by 24.4% to CHF 204 million and attained a margin of 10.0%. This marked improvement in the result was mainly achieved through improved price quality, as well as efficiency increases in the logistics chain and installation processes in the newinstallations business. It must, however, be noted that the result for the first quarter of 2007 was weak. In financial year 2008 Schindler expects to achieve a net profit above CHF 630 million and an operating margin of 10% in the core business. write your comments about the article :: © 2008 Construction News :: home page |