Finnish engineer Valmet Q3 profit beats forecasts

Finnish engineering firm Valmet reported a third-quarter profit that was above market expectations on Tuesday, after forecasting an improvement in its full-year underlying operating profit two weeks ago. [nL8N2H41DU]

Oct 27 (Reuters) - Finnish engineering firm Valmet VALMT.HE reported a third-quarter profit that was above market expectations on Tuesday, after forecasting an improvement in its full-year underlying operating profit two weeks ago.

Valmet said its quarterly earnings per share stood at 0.38 euros, above the average 0.33 euros expected by analysts in a Refinitiv Eikon poll.

Valmet, which owns nearly 30% of valve maker Neles NELES.HE, has been opposed to Swedish engineer Alfa Laval's ALFA.ST takeover bid for Neles, proposing that it merges with Neles instead.

(Reporting by Tarmo Virki in Tallinn and Anne Kauranen in Helsinki; Editing by Kirsten Donovan)

((tarmo.virki@thomsonreuters.com; +372 564 4562;))

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