Schneider Electric sees UK slowdown after Brexit, H1 profit beats

PARIS, July 28 (Reuters) - Electricity components and energy management group Schneider Electric (EUREX: SND1.EX - news) expects a slowdown in activity in Britain in the second half of the year, it said on Thursday after reporting better than expected first-half profit.

The company, which gets less than 4 percent of its sales in Britain, said it would adjust pricing, investments and the size of its team in the country as a result of Britain's vote to leave the European Union.

"It (Other OTC: ITGL - news) 's a bit too soon to say what exactly these adjustments will be," Chief Financial Officer Emmanuel Babeau told Reuters.

Schneider Electric reported on Thursday first half earnings before interest, tax, and amortisation of 1.57 billion euros ($1.74 billion), beating forecasts in a Reuters poll for 1.53 billion.

The company is focusing more on higher margin projects and said it now expected its adjusted EBITA margin to improve by between 60-90 basis points in 2016 before currency effects, against a previous growth target of 20-60 basis points.

It expects revenues to be flat on an organic basis.

($1 = 0.9036 euros) (Reporting by Gilles Guillaume and Victoria Bryan; Editing by Andrew Callus)