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Schindler profits jump by 26 per cent

Schindler's profits reached nearly SFr300 million in 2000


The Schindler elevator and escalator company boosted net profits in 2000 by 26 per cent to SFr299 million ($181.21 million). However, the company said on Tuesday that its operating profits did not meet expectations.

Schindler, which based near Lucerne and is the world's second-largest supplier of lifts and escalators, said operating revenue rose by 11 per cent to SFr8.5 billion.

A statement said consolidated operating profit increased to SFr422 million (compared to SFr382 in 1999) but that the improvement of 10 per cent was "less than expected".

The company said that, barring unforeseeable events, net profit for 2001 was expected to increase further.

The annual meeting of shareholders is to be asked to approve an increased dividend of SFr50 per registered share and bearer participation certificate, as well as repayment of SFr35 of the nominal value followed by reduction of the capital.

Orders received in 2000 by the Schindler group went up by 14 per cent to SFr8.75 billion, with the strongest growth coming from markets in North and South America, as well as Asia and Europe.

The statement added that the total order backlog rose to SFr3.713 billion.

swissinfo with agencies


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