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Lenzing ups savings targets as profits tumble

VIENNA, Aug 21 (Reuters) - Viscose fibers maker Lenzing announced higher savings targets on Thursday after first-half operating profit more than halved on deteriorating viscose prices.

The Austrian company, which is the world's biggest maker of cellulose fibers including its trademark Tencel, said it now expected cost savings of up to 90 million euros ($119 million) this year, half as much as originally planned.

First-half earnings before interest and tax (EBIT) were 32 million euros on sales that fell 4 percent to 900 million euros. ($1 = 0.7549 euro)

(Reporting by Georgina Prodhan; Editing by Miral Fahmy)