Cost cuts help Tieto's adjusted profit rise 13 pct
HELSINKI, April 25
HELSINKI, April 25 (Reuters) - Nordic IT services provider Tieto Oyj reported a 13 percent rise in adjusted first-quarter profit after cutting costs and selling assets to cope with slower corporate spending in Europe.
Restructuring costs and weaker sales weighed on its quarterly net profit, but operating profit, excluding one-off items, rose to 32.0 million euros ($41.59 million) from 28.4 million euros a year earlier, in line with market expectations.
($1 = 0.7695 euros)
(Reporting by Ritsuko Ando; Editing by Matt Driskill)
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