Incap Trims Outlook Amid Currency Pressures
HELSINKI – Incap Corporation posted a dip in revenue and profits for the first half of the year, citing delayed customer projects and unfavorable currency exchange rates as key drivers.
Revenue for the six-month period totaled approximately $117 million, down 1.4% from $118.6 million from the same time last year. Adjusted operating profit reached $13.4 million, compared to $14.4 million the previous year. Net profit came in at just $5.1 million, falling from $10.9 million in the first half of last year.
In the second quarter alone, revenue was $60.3 million, down 4.1% from the same quarter last year but up 5.9% from the first quarter this year. Operating profit for the second quarter stood at $6.5 million, down from $7.4 million a year ago.
CEO Otto Pukk said the company had expected more clarity by midyear around US tariffs and related policy shifts, but uncertainty remains.
Incap now forecasts full-year revenue between $228.7 million and $250.5 million and operating profit between $25.1 million and $31.7 million. This is a downward revision from earlier guidance calling for growth over last year’s totals.
