FRANKFURT (dpa-AFX) - Forklift manufacturer Kion is expecting higher profits for the full year after an unexpectedly strong third quarter. Earnings before interest and taxes adjusted for special items should now amount to at least 780 million euros, the Frankfurt-based company said surprisingly on Friday. Previously, only at least 680 million euros in operating profit had been in the plan. However, the MDax group is cutting back on sales: Here it should only be at least 11.2 billion euros instead of the previously targeted 11.4 billion. The Kion share price jumped briefly after the afternoon's news, but was down more than one percent a little later.

For the third quarter, Kion management now expects sales of around 2.73 billion euros, slightly more than a year earlier. Adjusted earnings before interest and taxes are expected to reach 224 million euros, after a loss of around 101 million euros a year earlier. Earnings were thus "significantly" higher than analysts' average expectations. The company explained the positive development in the forklift truck and warehouse technology business with the continuing stability of the supply chains, which allows higher production volumes. In addition, the efficiency measures introduced last year had a positive impact. Kion plans to publish its final quarterly figures on October 26./men/stw/he