|Day's Range||3,379.49 - 3,438.42|
|52 Week Range||3,051.19 - 3,700.37|
Austria-based aeroplane parts maker FACC said on Wednesday it expects to substantially improve earnings in its current business year by increasing automation and by outsourcing production of some components. The Chinese-owned company, which supplies the world's leading planemakers, more than doubled its net profit to 39.7 million euros ($47 million) in the year to end-February from 15.2 million the previous year. "The initiatives to increase the level of automation and productivity and to outsource the production of simple composite parts to the supply chain will continue (in 2018/19)," FACC said in its annual report.
Shares in Zumtobel slumped as much as 17 percent in morning trade after the Austrian lighting group's announcement late on Wednesday of a steep cut to its full-year profit target. Zumtobel shares were the worst performer on Austria's blue-chip index on Thursday morning after its second profit warning in three months, citing a sharp revenue drop in Britain as well as aggressive price competition. European rivals Philips Lighting and Osram were down about 2 percent.