Bloomberg News

YIT Slumps After Third-Quarter Earnings Miss Analyst Estimates

October 28, 2011

Oct. 28 (Bloomberg) -- YIT Oyj, Finland’s biggest builder, slid as much as 3.5 percent to 13.65 euros at the start of trading in Helsinki after reporting third-quarter net income of 18.6 million euros ($26.4 million) that missed the 38.1 million- euro mean net-income estimate of eight analysts surveyed by Bloomberg.

The combined full-year revenue and operating profit of units will grow from the 2010 level, the company said. Time-to- sale may be prolonged for residential units in Finland and Russia, YIT said.

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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