Glaston reduces operating profit forecast for the year

Officials at Glaston Corp., Finland, reduced the company's forecasted operating profit of 2008, according to a Sept. 26 company release. The profit is expected to be below the previous year's level. In a July 16 release, officials stated the expected net sales and operating profit would remain on the 2007 level.

 

The performance of the pre-processing segment has been weaker than anticipated, according to the Sept. 26 release. In addition the generally challenging market situation influences Glaston Corp.'s overall order intake and delivery times.

 

The company has initiated measures to improve profitability. The scope as well as the profit and loss effect of the measures will be announced by the end of October.

 

Glaston will publish the interim report for the third quarter Oct. 24.