Lanxess still optimistic about 2007, despite fluctuating energy costs |
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Mon, 29 Jan 2007 12:29
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FRANKFURT (AFX) - Lanxess AG said it is still optimistic about 2007, despite a 'misleading' report by a financial newswire that the company will find it a challenge to meet 2007 profit targets.A Lanxess spokesman told AFX News: 'We have not set any financial targets yet for 2007. Axel Heitmann (CEO) said that fluctuating energy prices present challenges, but this is nothing new. Lanxess is still optimistic about 2007 and we feel the company is on the right track.'The spokesman added that Lanxess 'may' present its financial targets for 2007 on March 20, when the company's full-year 2006 results are due to be published.The spokesman said that Lanxess had set a target in Sept 2006 of achieving an EBITDA margin before one-offs at the same level as its peer group by 2009.'There is no reason why Lanxess should take back this target,' he added.At 11.51 am, shares in the company were down 0.42 eur or 1.05 pct at 39.77, after closing on Friday at 40.19, while the MDAX was up 26.25 points or 0.27 pct at 9,669.02.After the story came out at around 9.00 am, shares in the company dipped to 39.38 eur.krysia.diver@afxnews.comkd/jsaCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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