Leoni sees strong Q4 compensating weaker Q3
PARIS (Reuters) - German cable and wiring specialist Leoni (LEOGn.DE) expects to reach its 2008 targets thanks to a strong fourth quarter that compensates for a weaker performance in the three months to September, a management board member said on Wednesday.
Leoni, which aims to grow sales by a quarter to 3 billion euros ($4.24 billion) this year amid an 8 percent rise in earnings before interest and tax of 140 million, has noted that weakness in car markets is leading some automakers to cancel orders.
"A lot of customers have reduced their volumes," Uwe Lamann, head of the company's wiring systems division, said at the Reuters Auto Summit.
(Reporting by Irene Preisinger; Editing by Richard Hubbard)
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