Schindler Q1 Net Profit Declines 15%

Schindler Holding AG SHLAF reported a 15% fall in its first-quarter profit. In the first quarter, Schindler posted a 5.4% rise in orders received to CHF2.19 billion and a 3.1% surge in revenue to CHF1.90 billion. In local currencies, orders received surged 9.5% and revenue gained 7.3%. Schindler's elevators and escalators business posted an operating profit (EBIT) of CHF224 million. Schindler's net profit fell to CHF156 million, versus CHF183 million, in the previous year.