Weak Finnish real estate market hits YIT's profit

HELSINKI Wed Oct 30, 2013 2:33am EDT

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HELSINKI Oct 30 (Reuters) - Finnish construction group YIT reported a weaker than expected third-quarter profit as economic uncertainty weighed on the real estate market.

YIT said its quarterly operating profit fell 29 percent from a year earlier to 37.4 million euros, compared with the average analyst forecast of 41 million euros in a Reuters poll.

The company lowered its full-year profit and sales forecasts in September, saying it expects sales and operating profit to be lower than in 2012. It reiterated this outlook on Wednesday.

(Reporting by Helsinki newsroom; Editing by David Cowell)

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