Sweden's Hexagon says weak N.America, China growth hit Q1 earnings
April 11 (Reuters) - Swedish industrial technology group Hexagon HEXAb.ST said on Friday its adjusted operating profit fell around 8% in the first quarter due to weaker than expected growth in North America and China, sending its shares 6% lower.
In a preliminary statement, the maker of measurement and positioning systems said it expected quarterly adjusted earnings before interest and taxes (EBIT) to fall to 345 million euros ($388.5 million), from 376.5 million last year.
"Growth in the key NAFTA and China markets declined in the last two weeks of March, with economic uncertainty impacting deliveries," Hexagon said in a statement.
The North American Free Trade Agreement, or NAFTA, concerns the United States, Canada and Mexico.
Hexagon also said its adjusted operating margin would decrease to about 26.1% in the first quarter, compared to 29% a year earlier.
($1 = 0.8881 euros)
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