Construction equipment rental services firm Cramo(HEL: CRA1V) reported 41% sales growth and turned into profit with EBITA of 14.3 million, margin of 8.9% and EPS of 9 cents. Construction activity in Finland, Sweden and Germany was driving the advance. Cramo said that debt crisis has dimmed business confidence and is being taken into account in Cramo’s business planning.
Theisen group integration is going according to plan and has made Cramo a larger player. Cramo completed a rights issue in April and acquired Tidermans in Sweden and Stavdal in Norway this summer. Cramo basically kept its guidance but added a clause about the increased market uncertainty. Investors were spooked by such and the stock lost nearly 30% for the week.
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