July 16, 2020 / 4:51 PM / a month ago

Finland's Konecranes sales, profit beat forecasts

(Reuters) - Finnish industrial crane maker Konecranes (KCRA.HE) reported late on Thursday smaller-than-expected falls in second quarter sales and profits.

Konecranes’ second quarter sales dropped 11% to 704.7 million euros ($804.6 million), and adjusted operating profit before amortisation (EBITA) fell 14% to 57.5 million.

Analysts average forecasts stood for 658 million euros sales and for EBITA of 26 million, according to Refinitiv data.

Konecranes will report its full results for the April-June period on July 24.

It expects 2020 sales and profits to fall below last year’s level.

Reporting by Tarmo Virki;Editing by Elaine Hardcastle

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