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Provider: Reuters Investment Profile

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Incap Oyj Lowers FY 2013 Financial Guidance-DJ

Friday, 13 Sep 2013 03:30am EDT 

Dow Jones reported that revenue and operating profit of Incap Oyj in the fiscal year 2013 are estimated to be smaller than previously forecasted. Several customers have announced that their order volumes will drop during the latter part of the year, and also the transfer of material purchases from customers back to Incap has been postponed more than expected. Furthermore, the weakening of the Indian rupee is decreasing the revenue calculated in Euros. Following on that, the Company estimates its full-year revenue for the fiscal year 2013 to be significantly lower than in 2012. The Company also estimates that its operating result (EBIT) for the latter half of the year is negative, whereby the full-year operating result for the fiscal year 2013 will be negative. In the interim report for January-June 2013 published on July 31, 2013 the Company estimated that the Group's full-year revenue would be clearly smaller than in 2012 and the full-year operating profit (EBIT) would be positive. In 2012 the Group's full-year revenue was EUR 64.1 million and the operating result (EBIT) EUR -0.7 million. 

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11:29am EDT