Low mining capex hit FLSmith's mineral turnover

By Kasia Patel
Published: Wednesday, 09 November 2016

The company reported an increase in revenue and profit in the third quarter of 2016 owing to strong activity in its service segment, while low investment in greenfield projects and pressure in minerals mean the mining technology provider has had to announce further lay-offs.

Danish technology firm FLSmidth has reported a 4% year-on-year (y-o-y) increase in revenue for the third quarter of 2016 to Danish krone (DKr) 4.77bn ($700.79m).

Profit for the period increased to DKr 170m up from a loss of DKr 84m in the third quarter of 2015. However, order...

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