Elevator maker Kone’s first-quarter profit beats forecasts

HELSINKI (Reuters) – Finland’s Kone reported a 10% fall in first-quarter profit hurt by the coronavirus outbreak but beat forecasts and stuck with its recently adjusted 2020 outlook.

The elevator maker’s adjusted operating profit of 205 million euros ($223 million) topped the 184 million expected by analysts, Refinitiv Eikon data showed.

Kone repeated its March 23 outlook in which it said its 2020 sales and adjusted operating profit margin would at best be flat from 2019.

(Reporting by Tarmo Virki and Anne Kauranen; editing by Jason Neely)