Metso's third-quarter sales and profit rise, boosting confidence in new strategy

Finnish engineering group Metso on Thursday reported a 10% rise in third-quarter sales, as robust demand for its mining and construction equipment provided a strong start for its new growth strategy.

Sales for the July-September period grew to 1.33 billion euros from 1.21 billion euros a year earlier.

Adjusted operating profit rose to 222 million euros from 204 million euros, though the corresponding margin edged down slightly to 16.7% from 16.8%.

The company, which supplies crushers, mills and other equipment, saw orders increase 2% to 1.26 billion euros, driven by growth in its Aggregates and Minerals segments.

The results follow the launch of a new corporate strategy in September, which set higher targets for sales growth and profitability.

"Thanks to our strong quarterly results, a new strategy focused on growth and profitability, and record-high employee satisfaction, I am confident that Metso is stronger than ever," President and CEO Sami Takaluoma said in a statement.

Metso also reported a significant improvement in cash flow from operations, which was 266 million euros compared to a negative 19 million euros in the prior year.

The company maintained its market outlook, expecting activity in both its main businesses to remain at the current level.