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Auto cable maker Leoni booked full year earnings before interest and taxes (EBIT) of about EUR131m compared with a previous yearloss of EUR116m), beating its target of EUR120m. This was including Q4 restructuring charges.
Sales rose to EUR2.96bn from EUR 2.16bn, up from the forecast EUR2.8bn “thanks to a dynamic uptrend” in auto demand and a strong increase in sales of cable harnesses and wiring systems for vehicles in BRIC countries and the US.
The 2011 sales forecast is EUR3.1bn.
