Singapore markets open in 8 hours 30 minutes
  • Straits Times Index

    3,120.24
    +24.65 (+0.80%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • Dow

    31,097.26
    +321.86 (+1.05%)
     
  • Nasdaq

    11,127.84
    +99.14 (+0.90%)
     
  • BTC-USD

    19,716.82
    +636.73 (+3.34%)
     
  • CMC Crypto 200

    427.30
    +7.16 (+1.70%)
     
  • FTSE 100

    7,232.65
    +64.00 (+0.89%)
     
  • Gold

    1,806.90
    +5.40 (+0.30%)
     
  • Crude Oil

    110.45
    +2.02 (+1.86%)
     
  • 10-Yr Bond

    2.8890
    0.0000 (0.00%)
     
  • Nikkei

    26,153.81
    +218.19 (+0.84%)
     
  • Hang Seng

    21,830.35
    -29.44 (-0.13%)
     
  • FTSE Bursa Malaysia

    1,437.52
    -12.22 (-0.84%)
     
  • Jakarta Composite Index

    6,639.17
    -155.16 (-2.28%)
     
  • PSE Index

    6,183.62
    +18.27 (+0.30%)
     

Schindler reports lower first-quarter profit due to coronavirus crisis

·1-min read
Logo of Swiss elevator maker Schindler is seen in Zurich

(Reuters) - Swiss elevator and escalator maker Schindler said on Wednesday its first-quarter net profit fell 36.5% from previous year as the global coronavirus crisis led to the shut down of production plants and construction sites in several countries.

Sales in January-March amounted to 2.45 billion Swiss francs ($2.53 billion), which was above the forecast of 2.33 billion francs in a Refinitiv poll, but about 5.2% less than 2.58 billion francs reported in the previous year.

The company reiterated its 2020 guidance, which was lowered in March, and expects revenue to fall by between 0% and 10% in local currencies, and net profit to be around 20% lower than in 2019.

(Reporting by Bartosz Dabrowski in Gdansk; Editing by Kim Coghill)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting