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Fuchs Petrolub Q1 Profit Down, But Sales Flat; Backs FY View

Lubricant manufacturer Fuchs Petrolub AG (FUPEF.PK) on Friday reported lower profit for the first quarter, reflecting higher costs, but revenues were on same level as last year.

For the first quarter, profit after tax slid 18 percent to 55 million euros from 67 million euros last year. Earnings per share slipped by 19 percent to 0.39 euros from 0.48 euros.

Earnings before interest and tax or EBIT for the period decreased 16 percent from last year to 77 million euros.

For the first quarter, sales revenues stood at 643 million euros, as continued growth in the North and South America region were offset by declines in China and Germany, due to a weak automotive demand.

Looking ahead, the Group said it is confirming its outlook for the full year. It continues to anticipates growth of sales revenues in the range of 2 percent - 4 percent and a decline in EBIT of -8 percent to -5 percent.

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