Ahlstrom to report lower profit than expected
The lower than expected demand has had an adverse impact on the company's net sales and operating profit, particularly in the Label and Processing business area.As a result, Ahlstrom updates its 2011 outlook for net sales and operating profit excluding non-recurring items from continuing operations. The company now estimates net sales to be 1,565-1,645 million Euros and operating profit of 46-56 million Euros. Ahlstrom had previously expected net sales to be at 1,580-1,740 million Euros and operating profit of 67-87 million Euros.Both the new and the previous guidance exclude figures from Home and Personal business area. The divestment of Home and Personal to Suominen Corporation is expected to be completed by the end of October this year.Ahlstrom will take firm action to address its underperforming businesses and to further streamline its cost structure to gain efficiencies in the supply chain base, the company writes in a press release.The company will publish its interim results for January-September on October 24. /AA