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Vestas Q3 below expectations; lowers FY profit guidance -Breaking

by Mike Robinson

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© Reuters.

COPENHAGEN, (Reuters) – Vestas, world’s biggest maker of wind turbines reported a lower than expected third quarter operating profit. It also lowered its outlook for operating margins for the entire year.

Operating profit before other items decreased 21% to $325 million ($376 million), below the predicted 381million euro forecasted by 16 analysts. This was according to an analysis by the company.

From 5-7% previously, the company now expects a 4% operating profit margin. This is far below its long-term goal of 10%. ($1 = 0.8633 euros)

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