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- Stock Exchange Release
- 08.09.2008 09:04 CET
YIT:S PROFIT PROFIT BEFORE TAXES WILL DECREASE COMPARED TO THE PREVIOUS YEAR
CORPORATE RELEASE PROFIT WARNING SEPTEMBER 8, 2008 at 10:00
YIT:S PROFIT PROFIT BEFORE TAXES WILL DECREASE COMPARED TO THE PREVIOUS YEAR
YIT Corporation estimates that in 2008 the revenue will increase but profit before taxes will decrease compared to the previous year. Estimate on profit development has weakened, because residential demand in Finland and construction volumes in Baltic countries have decreased further. We will specify the full year estimate in the next Interim Report.
Earlier YIT estimated that the revenue and profit before taxes for 2008 will increase compared to the previous year. Additionally, the company stated that increased uncertainties connected to the general economic development may weaken the profit development during the last part of the year.
For further information, please contact: Sakari Ahdekivi, Chief Financial Officer, +358 20 433 2258, sakari.ahdekivi@yit.fi Petra Thorén, Senior Vice President, Investor Relations, +358 40 764 5462, petra.thoren@yit.fi
YIT CORPORATION
Juha Kostiainen Senior Vice President, Corporate Communications and Business Development
Distribution: OMX Nordic Exchange Helsinki, main media, www.yitgroup.com