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Andritz upbeat on 2012, raises dividend
March 1, 2012 / 7:06 AM / 6 years ago

Andritz upbeat on 2012, raises dividend

VIENNA, March 1 (Reuters) - Austrian engineer Andritz expects higher sales and profit this year, it said when raising its dividend after results beat expectations.

“In spite of the uncertain general economic conditions, we currently see solid project activity overall in the markets we serve -- apart from single major projects that are difficult to forecast,” chief executive Wolfgang Leitner said on Thursday.

“On the basis of these expectations and the high order backlog, the Andritz group expects an increase in sales and net income in 2012 compared to 2011,” it said.

It raised its dividend to 2.20 euros from 1.70, in line with market expectations.

Fourth-quarter net income rose 23 percent to 80.2 million euros ($107 million), compared with a forecast for 69.5 million in a Reuters poll.

$1 = 0.7476 euro Reporting by Michael Shields; Editing by Dan Lalor

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