August 9, 2018 / 6:16 AM / 3 months ago

Duerr sees 2018 EBIT margin at lower end of target range

    BERLIN, Aug 9 (Reuters) - German automotive supplier Duerr
          on Thursday said that its 2018 underlying operating
profit (EBIT) margin would likely come in at the lower end of
the target corridor of 7.4 to 7.8 percent.
    In its second quarter results, Duerr posted a bigger than
expected drop in second-quarter earnings before interest and
tax, adjusted for extraordinary effects, compared with last
year.
    EBIT fell by around 18 percent to 54.9 million euros  ($63.8
million), compared with consensus for a roughly 11 percent
decline in a Reuters poll of analysts.             
    Second-quarter net profit amounted to 33.6 million euros, a
year-on-year decline of 17 percent. Analysts had expected a
slide of around 14 percent.
    
($1 = 0.8611 euros)

 (Reporting by Tassilo Hummel
Editing by Maria Sheahan)
  
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