Iveco Group rises FY forecasts after operating profits rose in Q3 By Reuters

MILAN (Reuters) – Truck maker Iveco Group on Wednesday raised again its forecasts for this year’s results, after operating profits rose in the third quarter, as pricing, volumes and a better product mix more than offset higher raw material and energy costs.

The Italian manufacturer said its consolidated adjusted earnings before interest and tax (EBIT) would come between 420-440 million euros ($423-$443 million) this year, versus a previous estimate of between 400-420 million euros.

Net revenues of industrial activities are now seen up between 5-6% this year, compared to a previous forecasts of between 3-4%, Iveco said.

($1 = 0.9940 euros)