Edition:
United States

Kone updates 2017 outlook


Tuesday, 26 Sep 2017 02:35am EDT 

Sept 26 (Reuters) - Kone Oyj :Says updates its 2017 business outlook to take into account restructuring costs from the Accelerate program, current foreign exchange rates and the latest business performance forecast.Says assuming that translation exchange rates would remain at end of August level for remainder of year, it would have an around 30 million euros ($35.56 million) negative impact on 2017 EBIT compared to previous assumption.Says forecast for full-year business performance has improved slightly during Q3.Says continues to expect net sales to grow by 1-3 percent at comparable exchange rates as compared to 2016.Says adjusted EBIT is expected to be in range of 1,200-1,250 million euros, assuming that translation exchange rates would remain approximately at end of August level for remainder of year.