3M raises full-year profit forecast on demand recovery, cost cuts

(Reuters) – 3M Co raised the low end of its full-year adjusted profit forecast on Friday expecting to benefit from restructuring measures and increasing demand for electronics, sending its shares up 2.5% in premarket trading.

The St. Paul, Minnesota-based company now expects full-year adjusted profit to be between $7.00 and $7.30 per share, above its previous forecast of $6.80 to $7.30 per share.

(Reporting by Kannaki Deka in Bengaluru; Editing by Maju Samuel)