Germany's Duerr ups 2013 profit target as auto business improves

FRANKFURT, Sept 30 Mon Sep 30, 2013 12:29pm EDT

Related Topics

FRANKFURT, Sept 30 (Reuters) - German automotive supplier Duerr hiked its earnings forecast for 2013, saying business had been positive in the third quarter.

Duerr, which supplies paintshops to car makers, had said in June that it may increase its targets due to booming business in China and the United States.

It said on Monday that it now expected to reach a margin on earnings before interest and taxes (EBIT) of between 7.5 and 8 percent, up from a previous goal of 7-7.5 percent.

It maintained its sales forecast at between 2.4 billion euros and 2.6 billion euros ($3.25-3.52 billion). ($1 = 0.7387 euros) (Reporting by Victoria Bryan)

FILED UNDER: