Sarna scraps 2002 profit growth goal, warns on 2003

Newswire

ZURICH, Oct 30 (Reuters) - Swiss plastics maker Sarna on Wednesday warned 2002 profit would be flat, scrapping an earlier forecast for a rise by at least 30 percent, due to unexpectedly high start-up costs. The firm cited start-up costs for new products and platforms at its German Paulmann & Crone car parts supplier as well as extraordinary restructuring costs as reasons for the profit warning which replaced forecasts made in August. "The start-up costs will also encumber the next ...

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