KCI Konecranes says its 2002 profit level is still within reach, despite a weak start to 2003.

But actions to rationalise capacity and increase efficiency would result in KCI Konecranes' total operating profit staying below the 2002 figure.

The company reiterated a comment from its first quarter report: "The profit level of 2002 remains within reach, however the business environment remains very challenging."

Demand for industrial cranes in Europe and North America remained weak and growth was not yet expected, Konecranes said in a statement. Maintenance services continued to grow.

KCI Konecranes will publish its January-June 2003 interim report on August 7.