UPDATE 1-Futuris says year on track so far

Newswire

(Adds detail) SYDNEY, May 23 (Reuters) - Australian farm services and automotive parts company Futuris Ltd said on Friday it expected a year profit in line with expectations after closing non-core businesses and cutting costs to offset tough market conditions. Futuris said its core businesses were tracking to expectations for the first 10 months of the year, and tipped a fiscal 2003 net profit of A$45-A$52 million (A$30-A$34 million). Year earnings for the year to end-June, 2003 were ...

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