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Hexagon warns of lower Q2 sales blaming trade war hit to China

STOCKHOLM, July 5 (Reuters) - Swedish industrial technology group Hexagon warned on Friday of a drop in quarterly organic revenue, blaming weaker than expected performance in June in China due to the country’s trade war with the United States.

The maker of measurement and positioning systems and software said it expected revenue of about 975 million euros ($1.10 billion) in the second quarter, meaning organic sales would shrink 1% from a year ago.

“The main reason for the slowdown has been the impact of increased geopolitical uncertainties on global trade, especially within the electronics business of the manufacturing intelligence division in China,” it said. ($1 = 0.8871 euros) (Reporting by Esha Vaish, editing by Anna Ringstrom)

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