Profits up at Konecranes

By Sarah Ann McCay05 August 2012

Finnish company Konecranes has beaten all forecasts by reporting a 38% increase in second quarter operating profit, to reach €34.7 million (US$ 43 million).

The industrial and port crane manufacturer attributed its growth to strong sales and a moderate rise in fixed costs. Sales for the firm reached €561.2 million (US$ 695.2 million) for the period, up 22.1% on 2011 figures.

Konecrane's order intake for Q2 2012 reached €553.7 million (US$ 685.9 million), up 22.3% year on year, while its order book at the end of June was €1,122.8 million (US$ 1,391 million), +14.5% higher than a year ago.

Following its strong order intake for Q2, the company repeated its full-year forecast for sales and operating profit to be higher than in 2011.

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