Friday, March 30, 2012

Wartsila margin double-digit


Finnish marine engine maker Wartsila says its takeover of Hamworthy could boost its 2012 pre-tax profit margin to between 10% and 11%. The company also said revenue should rise by between 5% and 10%.

It bought the UK gas carrier systems company in January, paying £381m ($605m), although the net price was £326m due to Hamworthy's cash balance.


Wartsila said Hamworthy should exceed the latest analyst consensus, which indicated in October that revenue would be EUR 280m ($372m) and the operating profit margin would hit 8% for its financial year ending in March.

The company will split Hamworthy into two business units: flow and gas solutions and environmental solutions.


Published : March 30, 2012

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