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Kyro falls on four-month result

24 June 1999: Shares in Finnish machinery and power group Kyro sank recently, after the company reported its January-April profit before extras falling 41% to FM 23 million.
The share was off 10.4% a…

24 June 1999: Shares in Finnish machinery and power group Kyro sank recently, after the company reported its January-April profit before extras falling 41% to FM 23 million. The share was off 10.4% at 5.6 Euros, making it the biggest decliner in Europe. The HEX general index was up 0.5% at 7452.72. “The expectation was for a clear turn in its profits, which did not then happen,” said analyst Martti Larjo from Evli Securities. The result from safety glass unit Tamglass in particular was clearly below expectations, he added. Tamglass saw net sales slump to FM 148 million from FM 215 in January-April 1998.

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