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LNZ - Lenzing AG News Story

€45.8 0.6  1.2%

Last Trade - 25/09/20

Basic Materials
Mid Cap
Market Cap £1.10bn
Enterprise Value £1.89bn
Revenue £1.67bn
Position in Universe 342nd / 1042

Lenzing expects to beat 90 mln euro savings target in 2014

Thu 13th November, 2014 6:39am
VIENNA, Nov 13 (Reuters) - Austrian viscose fibre maker 
Lenzing's  LENV.VI  third-quarter operating profit rose 11 
percent to 37.1 million euros ($46.2 million), beating the 
average estimate of 22.2 million euros in a Reuters poll, the 
company said on Thursday. 
    It said it expects cost savings to exceede its targeted 90 
million euros in 2014. Consolidated sales were steady at 457.7 
million euros, which the company said was due to lower average 
fibre selling prices. Sales were slightly below the average 
forecast of 460 million euros in a Reuters poll.  ID:nL6N0SW4OD  
($1 = 0.8036 euro) 
 (Reporting By Shadia Nasralla; Editing by Anand Basu) 
 ((Shadia.Nasralla@thomsonreuters.com; +43 664 390 6505; Reuters 
Messaging: shadia.nasralla.thomsonreuters@reuters.net)) 
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