Newsletter #069 (View other news stories)
PARTEK JANUARY TO JUNE RESULTS DOWN
HELSINKI, Finland
Thursday, 8 Aug 2002
Partek has booked EUR1.333 billion in net sales from January to June 2002, down from EUR1.361 billion in the corresponding period of 2001.
Operating profit for the half slipped to EUR38.9 million, down from EUR47 million in 2001. The first quarter operating profit was only EUR14 million, but the second quarter saw a strong recovery to EUR24.9 million.
Orders received accounted for EUR1.242 billion, up from EUR1.236 million for the 2001 corresponding period.
Container-handling machine orders dropped 17 percent to 370 from 445 in the same period in 2001. Load-handling machine orders were down four percent.
Orders for loader cranes increased. Good sales of new models had a positive effect on load handling's net sales, despite the segment falling 12 percent to EUR65 million compared to EUR75 million for the 2001 period.
"The first six months of the year have largely followed (forecasted) developments. After a poor first quarter, profitability improved in the second quarter. The strengthening of orders received has markedly improved the order book," the company's half-year financial report said.
"In spite of continuing economic uncertainty, profit in the second half of the year is expected to be better than in (2001). The target to achieve a better full-year profit than last year remains unchanged."
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