Schindler order intake slips in second quarter, weighed by China

(Reuters) – Swiss lift and escalator maker Schindler reported a second-quarter order intake of 2.98 billion Swiss francs ($3.35 billion) on Friday, down 0.4% from a year earlier in local currencies, as lower new installations in China weigh.

That just beat analysts’ expectations of 2.95 billion francs, a Vara consensus poll showed.

Schindler’s Modernisation and Service businesses, which focus on renovation and maintenance as opposed to the supply of new units, grew in the second quarter, it said.

($1 = 0.8889 Swiss francs)