BERLIN (dpa-AFX) - Knorr-Bremse AG (KNRRY.PK), a German manufacturer of braking systems, Thursday reported income before taxes of 412.19 million euros for the first half, higher than 376.77 million euros in the same period a year ago, primarily helped by growth in revenue.
Earnings before interest and taxes or EBIT rose to 475.5 million euros from 399.28 million euros in the previous year.
Net profit increased to 298.07 million euros or 1.85 euros per share from 250.66 million euros or 1.55 euros per share last year.
Revenue for the period grew to 3.987 billion euros from 3.917 billion euros in the previous year. Rail business increased by 9.2 percent to 1.98 billion euros while commercial vehicle business declined 4.6 percent to 2.007 billion euros.
Looking ahead, the company expects fiscal 2024 revenue to be in the range of 7.7 billion euros - 8 billion euros. This compares with the previous-year revenue of 7.926 billion euros.
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