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Issue #589

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2014 Media Kit
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Finland’s Cargotec misses market forecasts

By: | at 01:47 AM | Breakbulk & Projects  

Finnish cargo handling equipment maker Cargotec’s quarterly profit and annual dividend proposal missed analysts’ expectations after a slow recovery in its ship crane business.

The company on Tuesday said its fourth-quarter adjusted operating profit fell 3 percent from a year earlier to 39 million euros ($53 million), missing an average forecast of 42 million euros in a Reuters poll.

It proposed an annual dividend of 0.41 euros per class A share, down from 0.71 euros a year ago and lower than the average market forecast of 0.60 euros.