Brief: Detection Technology Says Demand In China Is Low, Key Customers Reduce Stocks

DETECTION TECHNOLOGY Oyj

03/08/2023 07:10

Aug 3 (Reuters) - Detection Technology Oyj  DETEC.HE :
    * DOUBLE-DIGIT GROWTH IS ATTRIBUTED TO SOFT Q2 OF 2022
    * PROFITABILITY REMAINED UNSATISFACTORY, AND MEASURES ARE
BEING
TAKEN TO RESOLVE THIS
    * CERTAIN KEY CUSTOMERS CONTINUED TO REDUCE THEIR STOCKS,
AND
DEMAND IN CHINA WAS LOW
    * DEMAND DRIVERS IN MEDICAL MARKET REMAINED UNCHANGED, BUT
DEMAND
SOFTENED ON ALL CONTINENTS
    * INCREASED UNCERTAINTY IN MARKETS IS EXPECTED TO CONTINUE
AT
LEAST TO END OF YEAR
    * LOWER-THAN-EXPECTED DEMAND WAS MAINLY ATTRIBUTED TO
STAGNATION
IN CHINESE MARKET
    * BOOST IN DEMAND IN AMERICAS AND INDIA
    * IN H2, DEMAND WILL STRENGTHEN, ESPECIALLY IN CHINA, WHERE
WE
HAVE RECEIVED NEW INQUIRIES AND ORDERS
    * WE EXPECT SALES OF A COUPLE OF MILLION EUROS IN H2 OF 2023

Source text for Eikon:  ID:nWkrbRNLLD 
Further company coverage:  DETEC.HE 

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