12.12.2006

Finning issues 2007 guidance

Finning has said that it expects 2006 revenues and profits to come in close to its earlier forecasts with revenues in the region of C$4.8 billion ($4.3/£2.3billion) and net income around C$225 million ($202/£108 million)

It has also now issued its initial guidance for 2007, it expects revenues to rise by eight to 10 percent to around $C5.3 billion ($4.7/£2.5 million) with earnings climbing by 12 to 16 percent.

"2006 turned out to be a very good year for Finning, and we are expecting that 2007 will be another successful year," said Doug Whitehead, president and chief executive officer of Finning.

"In 2007, we expect our Canadian and South American operations to once again have strong performances and our UK operations to make measured progress and continue to improve results."