<p>Swiss elevator and escalator manufacturer Schindler increased its 2021 sales forecast on Friday, after reporting first-quarter earnings above expectations.</p>.<p>The world's second-biggest lift-maker now sees 2021 revenue growing 4% to 7%, compared with its previous outlook of flat to up 5%.</p>.<p>The company's net profit in the January-March period was 213 million Swiss francs ($234 million), compared with analyst expectations of 173 million francs, according to a company-provided poll.</p>.<p>Schindler said it would launch a programme to speed up digitization and address issues such as commodity price inflation. The programme would lead to an incremental cost of up to 270 million francs, according to the company.</p>.<p>"There is no better time to accelerate digital transformation and product development to strengthen our position in key markets and to address profitability gaps," Chief Executive Officer Thomas Oetterli said.</p>.<p>On Wednesday, Finnish rival Kone reported a decline in order intake and said cost inflation would erode its margins even as first-quarter sales and profit beat expectations.</p>.<p>Schindler's first-quarter sales grew 6.3% to 2.60 billion francs, above the 2.50 billion francs estimated in the poll.</p>
<p>Swiss elevator and escalator manufacturer Schindler increased its 2021 sales forecast on Friday, after reporting first-quarter earnings above expectations.</p>.<p>The world's second-biggest lift-maker now sees 2021 revenue growing 4% to 7%, compared with its previous outlook of flat to up 5%.</p>.<p>The company's net profit in the January-March period was 213 million Swiss francs ($234 million), compared with analyst expectations of 173 million francs, according to a company-provided poll.</p>.<p>Schindler said it would launch a programme to speed up digitization and address issues such as commodity price inflation. The programme would lead to an incremental cost of up to 270 million francs, according to the company.</p>.<p>"There is no better time to accelerate digital transformation and product development to strengthen our position in key markets and to address profitability gaps," Chief Executive Officer Thomas Oetterli said.</p>.<p>On Wednesday, Finnish rival Kone reported a decline in order intake and said cost inflation would erode its margins even as first-quarter sales and profit beat expectations.</p>.<p>Schindler's first-quarter sales grew 6.3% to 2.60 billion francs, above the 2.50 billion francs estimated in the poll.</p>