Elevator maker Kone profit meets forecasts on improved China demand

Kone's quarterly operating profit of $394mln versus the 329.3mln expected by analysts

  
KONE Brings a Human Touch To 24/7 Connected Services With the World’s First Tweeting Escalator Image used for illustrative purpose.

KONE Brings a Human Touch To 24/7 Connected Services With the World’s First Tweeting Escalator Image used for illustrative purpose.

KONE Corporation/Handout via Thomson Reuters Zawya

HELSINKI - Finland's Kone reported an expected rise in third-quarter profit on Thursday as demand for elevators and escalators "developed extremely well" in China.

Kone's quarterly operating profit of 333.1 million euros ($394 million) versus the 329.3 million expected by analysts, Refinitiv Eikon data showed.

A month ago Kone raised its 2020 outlook citing better-than-expected development in Q3 sales and adjusted EBIT.

($1 = 0.8447 euros)

(Reporting by Anne Kauranen; editing by Jason Neely) ((anne.kauranen@thomsonreuters.com; +358925166112;))

More From Business