Schaeffler confirms 2012 outlook as Q2 EBIT drops

Newswire

BERLIN, Aug 28 (Reuters) - Indebted German auto parts supplier Schaeffler stood by its full-year business outlook on Tuesday, targeting sales growth of more than 5 percent and an EBIT margin of more than 13 percent. Schaeffler, the biggest shareholder in German auto parts and tyre maker Continental, said second-quarter earnings before interest and tax (EBIT) fell 7.8 percent to 379 million euros ($474.37 million). "Uncertainty and risks characterise the economy ...

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