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Metso Outotec operating profit falls in second quarter

The newly formed Finnish engineering group Metso Outotec reported a 31% drop in second-quarter operating profit, citing weak sales due to COVID-19.

Helsinki, Aug 5 (Reuters) - The newly formed Finnish engineering group Metso Outotec MOCORP.HE reported a 31% drop in second-quarter operating profit, citing weak sales due to COVID-19.

Sales for the quarter, down 16% year-on-year at 141 million euros ($166.44 million), were in line with analysts' average expectations for 141.3 million euros, following a profit warning last week L5N2EY1IP.

Metso's minerals business and Outotec merged on July 1, creating one of the largest global makers of machinery for the mining industry. L8N2450ZZ

($1 = 0.8472 euros)

(Reporting by Anne Kauranen, editing by Louise Heavens)

((anne.kauranen@thomsonreuters.com; +358925166112;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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