Pöyry achieves 19% sales increase during first nine months of 2008

Finnish consulting and engineering firm Pöyry Group PLC has announced an 18.6% increase in global sales, amounting to EUR 608.1 million, for 1 January to 30 September 2008. Pre-tax profit rose by 43.4% to EUR 76.3 million, representing an operating margin of 12.5%.

The business is organised into three main groups: energy, forest industry and infrastructure & environment. Demand for energy services is said to have remained good in Europe, with the recent turmoil in financial markets not having any impact on investment demand in the energy sector so far, according to Pöyry. Net sales for the energy division increased by 14.3% to EUR 177.0 million for the period under review, with an operating profit margin of 11.4%.

Net sales in the infrastructure & environment group rose by 19.0% to EUR 190.1 million, and pre-tax profits increased by a similar level to account for a margin of 7.3%. Business in this area was boosted by a string of large international development projects. As of 1 January 2009, the infrastructure & environment group will be split into three further sub-divisions: transportation, water & environment and construction services (see EA Newslink, 07/10/08).

• News release