FILE PHOTO: A Atlas Copco company logo is pictured at the “Bauma” Trade Fair for Construction, Building Material and Mining Machines and Construction Vehicles and Equipment in Munich, southern Germany, April 11, 2016. REUTERS/Michael Dalder/File Photo
January 26, 2018
STOCKHOLM (Reuters) – Atlas Copco <ATCOa.ST>, one of the world’s biggest makers of compressors and underground mining equipment, on Friday reported a fourth quarter operating profit below market forecasts and said it expected demand to stay at the current level in the first quarter.
The company, whose products also include vacuum pumps and industrial tools, said its quarterly operating profit rose to 6.23 billion Swedish crowns ($791 million) from 5.79 billion a year earlier, lagging a mean forecast for 6.51 billion in a Reuters poll of analysts.
The Swedish firm, which is planning to spin-off its mining and civil engineering business under the name Epiroc later this year, proposed an ordinary dividend of 7 crowns per share and an extra payout of 8 crowns through a mandatory share redemption.
Analysts had on average expected a dividend of 8.26 crowns, including some expectations for a special dividend.
Atlas Copco shares fell 3 pct just after the report was released.
(Reporting by Johannes Hellstrom; editing by Niklas Pollard)
