* Operating profit 43.8 mln euros vs forecast 41.2 mln
* Benefits from cost cuts
HELSINKI Feb 6 Nordic IT services provider
Tieto reported a 28 percent jump in its
fourth-quarter adjusted profit as cost cuts helped it weather a
fall in sales.
Tieto, which competes with bigger technology services
companies such as IBM and Accenture, said its
quarterly operating profit excluding items rose to 43.8 million
euros ($59.3 million). Analysts on average expected 41.2 million
euros, according to a Reuters poll.
Sales fell 2 percent to 478.6 million euros as businesses
throughout Europe reconsidered major IT investments.
The company forecast operating profit excluding items to
improve in 2013 after cutting costs and divesting some
operations in Europe to cope with slower corporate spending.
It sold off businesses in Italy and Spain late last year.
This week it announced that it will sell most of its operations
in Germany and the Netherlands, a move that will help improve
its underlying operating margin by 0.5 percentage point.
It proposed an annual dividend of 83 euro cents a year, up
from the previous year's 75 cents.
($1 = 0.7392 euros)
(Reporting by Helsinki Newsroom)