Johnson Electric shrs sink after profit warning

Newswire

HONG KONG, April 28 (Reuters) - Shares of Johnson Electric , the world's most valuable independent maker of micro-motors, fell nearly 10 percent on Friday after it said its annual profit will drop 30 to 35 percent because of higher raw material costs and acquisition expenses. Johnson Electric shares fell 9.7 percent to HK$6.55 on the Hong Kong stock exchange. Johnson, which makes motors that power devices including car windows and electric toothbrushes, said higher steel and copper ...

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