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Kone outlook, Q4 profit miss expectations
January 24, 2013 / 10:52 AM / 5 years ago

Kone outlook, Q4 profit miss expectations

HELSINKI, Jan 24 (Reuters) - Finnish lift and escalator maker Kone gave a weaker-than-expected outlook for 2013 after its fourth-quarter operating profit also fell short of market forecasts.

Kone said it expects full-year 2013 sales to grow 5-9 percent and operating profit to be around 840-920 million euros ($1.12-$1.22 billion). Analysts on average expected 2013 operating profit of 938 million euros, according to a Reuters poll.

October-December operating profit increased almost 10 percent to 255.6 million euros, but missed the market’s average forecast of 260 million euros. ($1 = 0.7530 euros) (Reporting by Helsinki Newsroom)

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