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Fuchs Petrolub H1 Profit, Sales Revenues Down

Lubricant manufacturer Fuchs Petrolub AG (FUPEF.PK) Thursday reported lower profit for the half year, while sales edged down 1 percent, reflecting difficult market conditions.

For the first half, profit after tax slid by 20 percent to 112 million euros, earnings per ordinary share fell to 0.80 euros from 1.00 euros.

EBIT for the period was down 19 percent to 157 million euros, dented by lower sales revenues and the planned increase in costs related to the growth program.

The Group's sales revenues were down by 1 percent to 1.296 billion euros.

Looking ahead, the Group now expects a slight decrease in sales revenues of between -3 percent and 0 percent, and EBIT to decline between -30 percent and -20 percent.

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