Ramirent reduces full-year profit forecast

Ramirent said further softening of markets - particularly the Baltic States - and increased operating costs would make it difficult for it to meet its 15% profit growth estimate for 2008.

The company made its growth estimate on 9 May and said it would now be "challenging" to fulfil the financial target of 15% growth in earnings per share. Ramirent said it still forecasts net sales growth for the full year, "However, due to the further softening of markets especially in the Baltics and increased financial costs, the company estimates the profit before taxes and earning per share to be below 2007 level."

Ramirent will publish its second quarter interim report on 15 August.