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| Schindler net profit up 21.7% Schindler, a Switzerland-based holding company that specializes in the production of escalators, elevators and moving walks, grew its net profit by 21.7% to CHF 185 million in the first quarter of 2011. Adjusted for a one-off gain of CHF 31 million resulting from the revaluation of ALSO-Actebis, the increase in net profit totaled 6.2%. Orders received rose by 6.7% in local currencies but declined by 2.8% in Swiss francs as a result of significantly lower exchange rates. The EBIT margin in the elevators and escalators business was 11.5%. Schindler's operating performance in the first quarter of 2011 was in line with expectations for the full year 2011. Schindler anticipates that the strong Swiss franc will continue to negatively impact its financial results in the coming quarters. It therefore expects that excluding any unforeseeable events, its net profit for 2011 will be slightly lower than in the previous year. write your comments about the article :: © 2011 Construction News :: home page |