April 25, 2019 / 9:44 AM / 2 months ago

Elevator maker Kone lifts 2019 outlook after strong Q1 sales

HELSINKI, April 25 (Reuters) - Finnish elevator maker Kone on Thursday reported higher than expected first-quarter sales, and nudged up its forecasts for 2019 sales and profits.

The company said its first quarter sales rose 10 percent to 2.2 billion euros ($2.5 billion), beating all analysts’ expectations, with adjusted operating profit rising to 228.4 million euros, in line with expectations of 229 million.

Kone forecast its 2019 sales would grow 3–7 percent at comparable exchange rates, with 2019 adjusted EBIT in a range of 1.16-1.26 billion euros. It had previously forecast sales growth of 2–7 percent, with adjusted EBIT of 1.12-1.24 billion euros.

$1 = 0.8977 euros Reporting by Anne Kauranen, Editing by Mark Potter

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