Schindler Q3 profit rises on strong Asia-Pacific, China growth

Credit: REUTERS/ARND WIEGMANN

Swiss elevator and escalator manufacturer Schindler said on Thursday its third-quarter net profit rose 6.1% from previous year to 244 million Swiss francs ($246 million), citing strong growth in the Asia-Pacific region, supported by positive business development in China.

Oct 24 (Reuters) - Swiss elevator and escalator manufacturer Schindler SCHP.S said on Thursday its third-quarter net profit rose 6.1% from previous year to 244 million Swiss francs ($246 million), citing strong growth in the Asia-Pacific region, supported by positive business development in China.

Sales during the July to September period were 2.82 billion francs, which is 5.2% more than 2.68 billion francs reported in the previous year.

The company reiterated its 2019 guidance of revenue growth of between 4% and 6% in local currencies, and net profit reaching the range of 900 million francs to 940 million francs.

($1 = 0.9904 Swiss francs)

(Reporting by Bartosz Dabrowski; Editing by Christian Schmollinger)

((bartosz.dabrowski@thomsonreuters.com; +48 58 772 0995;))

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