Ponsse Jumps Most in Two Years on Booming Sales: Helsinki Mover
Ponsse Oyj, the Finnish maker of forestry machines, advanced the most in two years in Helsinki trading after reporting a jump in sales.
The shares gained as much as 11 percent, the most since Aug. 10, 2011, and rose 9 percent to 6.45 euros at 10:52 a.m. with volume almost seven times the three-month daily average. It was today’s biggest gain on the Nasdaq OMX Helsinki All-Share Index.
Ponsse’s second-quarter net sales rose 13 percent to 83.6 million euros ($111 million) and its operating profit margin increased to 10.1 percent of sales from 8.3 percent a year earlier, according to a statement to the Helsinki stock exchange today.
“The active demand in the Russian and Finnish markets had a significant effect on performance in the second quarter,” Chief Executive Officer Juho Nummela said in a statement. “Our order intake improved and order books developed favorably.”
Ponsse “significantly extended its foothold” in Latin America and a revival in construction in the North American market is benefiting the company, it said. Ponsse projected a positive impact on full-year results from customers’ “positive work situation,” combined with new products and maintenance services.
To contact the reporter on this story: Kati Pohjanpalo in Helsinki at email@example.com
To contact the editor responsible for this story: Tasneem Brogger at firstname.lastname@example.org