Oerlikon Climbs as Annual Profit May Beat Guidance: Zurich Mover
This article is for subscribers only.
OC Oerlikon Corp AG, a Swiss maker of textile machinery, rose to the highest price in almost two years after saying profit may exceed its earlier guidance as a slumping textile market stabilizes.
“The bottom line and the top line can improve on our guidance,” Chief Executive Officer Michael Buscher said in a telephone interview. “We are confident we can increase profitability further compared to 2011.” Buscher didn’t say by how much profit may rise. The Pfaeffikon-based company’s shares gained as much as 4.2 percent in Zurich, the biggest intraday jump since March 26 and the highest price since May 2010.