Barco no longer sees improvement in second half
BRUSSELS (Reuters) - Belgian visual technology company Barco on Wednesday issued another downgrade of its outlook for 2014, when it said that it expected its performance in the second half to be in line with the previous year.
The group, which issued a profit warning in July, previously said it expected revenues and profit to increase in the second half of the year, compared with the same period in 2013.
Consolidated sales in the third quarter increased by 0.8 percent year-on-year, Barco said, adding that core profit margin had improved though without saying by how much.
Sales fell for all divisions, apart from the Industrial & Government and Healthcare units. Entertainment & Corporate, which sells digital cinema projectors and makes up half of group sales, suffered a 1.9 percent drop in revenue.
A year ago, overall sales fell by 10.3 percent.
In September, the group agreed to sell its defence and aerospace business to U.S. firm Esterline Corporation for 150 million euros (118 million pounds).
(Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)
