The original story referred to the operating profit (not margin) stating growth of above 10% in 2008. A spokesperson said: “Basically this is true as we have guided for sales growth of approximately 15% and the margin improving from 10%. But combining higher sales and margin adds up to more than 10% growth in operating profit, so some market participants were uncertain if the FT story was a downgrade of the guidance.”
The sokesperson added: “As the share price came done and there was uncertainty on the market, we decided to clarify the situation with a release even though FT had corrected the story.”
The corrected version says “operating margins to be above 10%.”
The article is based on an interview with CEO Pekka Lundmark, in which he reiterated the operating margin target for 2008. The Group EBIT margin is targeted to exceed the comparable level of 10% (excluding capital gain) achieved in 2007.
