Finnish technology supplier Teleste has warned that business predictability has become more difficult due to the continued uncertainty of the world economy. The company says it still is confident of continuing on its path of profitable growth in the medium term.
The warning came as the company reported a 52.7% fall in operating profits to €2.6 million. Net sales for the half year to June 30 stood at €56.5 million, 8.6% below the same period last year.
In a statement, Teleste said that its net sales for the year would fall slightly short of last year’s levels due to the partial postponement of some customers in the placing of their orders. However, the total orders received will still be above last year’s levels.
