05.08.2008

Profit warning from Rami

Ramirent, the Finish based international rental company, has issued a profit warning just two weeks before it is due to announce its half year results.

The company says that while it still expects revenues to grow in line with its original expectations it will be difficult to meet its 15 percent earnings projections due to a slow down in the Baltic states and higher financing costs. It also warns that as a result earnings may even fall below 2007 levels.

Ramirent has also announced that one of its directors, Freek Nijdam, who is also a vice president at Atlas Copco, has resigned for health reasons.

Nijdam has been a Ramirent director since 2007, the resignation which is immediate, reduces the Rami board to six.

Chairman Peter Hofvenstam said: "On behalf of Ramirent's Board of Directors, I would like to thank Mr. Nijdam for his service to the Company, he has made important contributions to the Board of Directors and to the development of the Ramirent Group."