Finnish cargo handling solutions provider Cargotec (OMXH: CGCBV) slumped around 4% in Monday action after lowering its full-year operating profit guidance for the second time in a few months. The company is now guiding for a profit margin of around 5%, while in July the prognosis was lowered from over 6.6% to around 6%. Terminals business area is still the main culprit with the costs climbing higher than expected.
Preliminary figures for Q3 2012 show a slightly disappointing order intake of around 719 million Euros, sales of 794 million and operating profit margin of 4.9%. The company is undertaking measures to address the costs and will be taking some one-off charges on Q4. Third quarter report is scheduled to be released on October 25th.
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