MAINTAL (dpa-AFX) - Joining technology specialist Norma Group has reduced its sales forecast for the current year due to weaker demand from automotive and supplier customers. In terms of earnings, adjusted for currency and acquisition effects, an increase in the range of only 0 to 1 percent compared to the previous year is now expected, the SDax-listed company announced surprisingly on Thursday in Maintal. Previously, Norma had held out the prospect of growth in the mid-single-digit percentage range.

However, the forecast for profitability was confirmed. The margin on the basis of earnings before interest and taxes (Ebit), adjusted for non-recurring effects, is expected to remain at around eight percent and thus at the level of the previous year. The company also presented its key figures for the third quarter. Publication of the detailed figures is scheduled for November 7./zb/he