MTL sounds the alarm on profits
12 April 2012
SHARES in MTL Instruments fell 16% to 212 1/2p as the control systems group said this year's earnings were likely to fall short of expectations. It blamed a slowdown in new orders and increasingly fierce price competition on remaining business.
MTL said revenue would be up to 3% lower than expected and there would be a 'small reduction' in margins if the trend was not reversed. Part of its caution stemmed from the uncertain outlook for the petroleum industry, which is a big user of its equipment.
