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Takeover target Neles Q3 core profit in line with forecast

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Niklas Pollard Reuters
Johannes Hellstrom Reuters
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Finnish valves maker Neles reported a fall in third-quarter core earnings on Wednesday, in line with market expectations, and stuck by a mixed outlook for demand in its key markets and continued uncertainty due to the pandemic.

STOCKHOLM, Oct 28 (Reuters) - Finnish valves maker Neles NELES.HE reported a fall in third-quarter core earnings on Wednesday, in line with market expectations, and stuck by a mixed outlook for demand in its key markets and continued uncertainty due to the pandemic.

Neles, at the centre of a takeover battle, reported quarterly adjusted profit before interest, taxes and amortisation (EBITA) of 23 million euros, down from a year-ago 28 million and meeting the 22.8 million seen in a poll of analysts commissioned by the company.

(Reporting by Niklas Pollard and Johannes Hellstrom, editing by Supantha Mukherjee)

((Niklas.Pollard@thomsonreuters.com;))

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