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FLSmidth Q2 better than fcast, upgrades 2009 view

Thu Aug 20, 2009 6:29am EDT

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COPENHAGEN, Aug 20 (Reuters) - Danish engineering group FLSmidth (FLS.CO) posted a smaller drop than expected in second-quarter core profits on Thursday and upgraded its full-year guidance.

Earnings before interest, tax, depreciation and amortisation fell to 627 million Danish crowns ($118.8 million) in April-June from 699 million in the same quarter last year.

The result beat a mean forecast of 542 million in a Reuters survey of five analysts.

FLSmidth adjusted its full-year 2009 outlook for profit margin to between 8.5 percent and 9 percent of sales from previous guidance of around 8-9 percent. It maintained guidance of sales of 20-23 billion crowns.

The company said it would pay extra dividend of 2 crowns per share due to satisfactory results.

(Reporting by Teis Jensen)



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