Kone profit rises as China market helps offset weak Europe trend

Lift and escalator maker Kone reported a 14 percent rise in quarterly profit, as strong sales in China helped it buck a weaker trend in Finland’s manufacturing sector, Reuters reported.

Kone said its third-quarter operating profit rose to 258 million euros ($352.83 million) from 226 million euros a year earlier, slightly above the market’s average forecast of 254 million euros in a Reuters poll.

Kone has benefited from the construction of new offices, homes, shopping centres and airports in Asia, particularly in China.

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