Fortum Posts Downbeat Q2 Profit

Fortum Oyj FOJCY reported a weaker-than-expected second-quarter net profit. Fortum's quarterly sales came in at EUR1.28 billion, versus EUR1.32 billion, in the year-ago period. Its net profit dropped to EUR186 million, from EUR472 million, missing analysts' estimates of EUR241.1 million. Fortum shares closed at $3.57 yesterday.