HELSINKI (Reuters) - Finnish engineering business Metso posted better than expected fourth-quarter results on Wednesday, helped by a strong performance from its minerals division, lifting the company’s shares to a three-month high.
New orders at the minerals unit grew 35 percent year on year to 714 million euros (627 million pounds), demonstrating a healthy market for mining equipment and beating analyst forecasts.
“We had a strong fourth quarter,” Chief Executive Pekka Vauramo said in a statement. “Our top-line growth was also solid and resulted from improved delivery capability in all businesses.”
Metso’s shares were up 7.8 percent at 28.17 euros by 0940 GMT.
The company also forecast improved business in its main operations in the first half of 2019.
Fourth-quarter operating profit jumped to 93 million euros from 60 million euros, beating an average forecast of 88 million euros in a Reuters poll of analysts.
Reporting by Tarmo Virki; Editing by David Goodman