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Hitt og þetta 18. september 2006

Perlos Corporation downgrades profit expectations

Nordic Business Report-September 18, 2006-Perlos Corporation downgrades profit expectations
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Finnish precision plastics manufacturer Perlos Corporation issued on Monday (18 September) a profit warning for the period July-September and for the full-year 2006.

The company's net sales had developed as expected in July-August and, as previously guided, the third quarter net sales figure is estimated to be at the level of the second quarter.

The comparable operating result exclusive of non-recurring items is anticipated to be significantly below that of the second quarter.

Full-year net sales are expected to grow in line with the volume growth of the global mobile phone market, and the comparable operating result exclusive of non-recurring items is estimated to be at the level of the year 2005.

The weaker profitability is mainly due to the fact that low value-added products comprised a greater share of net sales than expected, according to the company.

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