Finnish cargo-handling machinery Cargotec (OMX: CGCBV) lowered its 2012 profit guidance this morning due to weaker than expected profit margin development in Terminals-segment. Previously the company had been saying that strong order book supports recovery in the segment despite a challenging Q1. Now it is admitted that the margin improvement will be clearly less than previously expected, pushing the group outlook down from a profit margin of above last year’s 6.6% level to approximately 6%.
Sales are still expected to grow from last year. The company will start efficiency measures in Terminals and Load Handling segments, which until late least year together formed business area Industrial & Terminal. Cargotec’s new competence centre in Singapore focuses on developing automation systems for terminals. Cargotec has been contemplating listing of Marine on the Singapore Exchange.
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