Plane parts maker FACC cuts 2019 earnings forecast

FACC AG

16/01/2020 07:16

VIENNA, Jan 16 (Reuters) - Plane parts maker FACC  FACC.VI 
on Thursday cut its earnings forecast for its shortened fiscal
year 2019 but confirmed its medium-term earnings target. 
    The Austrian headquartered group, owned by China's Aviation
Industry Corporation (AVIC)  000768.SZ , now expects the profit
margin to come in at 5.2% to 5.7% after previously forecasting
6%. 
    "The medium-term growth and earnings targets remain
unchanged, albeit depending on the market development -
significant rate increases on growth projects have
been completed," FACC said.

 (Reporting by Kirsti Knolle, editing by Emma Thomasson)
 ((kirsti.knolle@thomsonreuters.com; +43 1 53 11 22 55;))