A confident Cavotec

According to a company statement, day-to-day business was good throughout the quarter with significant increases in revenues registered by most of the company’s Market Units (MUs). The Ports & Maritime MU was the strongest performer, exemplified by a significant order for Alternative Maritime Power reeling systems in Southeast Asia, posting an increase in revenues of 38.2% compared to Q3, 2011.

Although activities in the mining sector also continued to grow, the Group’s General Industry MU reported lower revenues compared to Q3, 2011 in line with an overall softening in the sector and despite a partial offset from the increase in volume from new business areas.

In light of the results and the strong performance expected for the next quarter underpinned by the completion of the MoorMaster™ automated mooring project in Pilbara, Australia and a strong Order Book, the company is confident in upgrading the expected FY12 revenues to the top end of its previously communicated guidance, which means an increase of between 13% to 15% compared to FY11 revenues.