November 15, 2017 / 6:42 AM / in a year

Lenzing 9-month core profit up 24 pct y/y on higher prices

VIENNA, Nov 15 (Reuters) - Austrian fibre maker Lenzing’s nine-month core profit was up by around a quarter compared with last year at 397.1 million euros ($468.18 million), mainly on the back of higher prices, it said on Wednesday.

The company said it expected its operating result this year to be significantly better than 2016. As for next year, Lenzing said high demand is set to continue, but supply of viscose and cotton is expected to rise, resulting in a tougher market for standard viscose.

Core profit is earnings before interest, tax, depreciation and amortisation.

$1 = 0.8482 euros Reporting by Shadia Nasralla; Editing by Sunil Nair

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