Lassila & Tikanoja plc’s (HEL: LAT1V) net sales grew to 162.2 million Euro but operating profit excluding non-recurring items was down to 9.7 million from 11.8 million. The firm is guiding for full-year net sales to be up slightly in 2011 and operating profit to match that of 2010.
At historical valuations Lassila & Tikanoja, which has very predictable basic business (environmental management ie. trash collection and property cleaning), has now slided to reasonable levels. The problem with the investment case is that the company has made some big forays into new fields in renewable energy and those are yet to show up in anywhere else than in expenses. The stock is down 1% for the day.
No comments:
Post a Comment