October 30, 2019 / 11:18 AM / a month ago

Hexagon Q3 profit in line with forecasts, organic sales drop again

STOCKHOLM, Oct 30 (Reuters) - Industrial technology group Hexagon on Wednesday reported quarterly operating earnings in line with analysts’ forecasts even as organic sales dropped for the second consecutive quarter on the back of headwinds in China.

Hexagon’s third-quarter organic sales declined 3% year-on-year. That compared with a 1% drop in the second quarter, which was its first quarterly decline since 2009.

The company’s operating earnings rose to 236 million euros ($262 million) up from 232 million in the year-earlier quarter, and in line with the mean forecast in a Refintiv analyst poll.

Hexagon shares were up 4.0% following the results. ($1 = 0.8998 euros) (Reporting by Johannes Hellstrom, editing by Helena Soderpalm)

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