FLSmidth Q1 Net Profit Surges 39%

FLSmidth & Co. A/S FLIDY reported a 39% rise in its first quarter net profit. Its net profit climbed to DKK241 million, from DKK173 million, in the year-ago quarter. However, analysts were expecting a net profit of DKK194.6 million. EBIT gained 9.5% to DKK334 million, from DKK305 million, versus analysts' estimates of DKK419.5 million. FLSmidth's sales surged 17% y/y to DKK5.15 billion, from DKK4.39 billion, versus analysts' expectations of DKK4.59 billion. The order intake jumped 29% in the period to DKK6.42 billion from DKK4.96 billion. FLSmidth shares closed at $5.99 yesterday.