Teleste sales fall

Teleste has reported a 13.1% fall in net sales year on year to €108.7 million, but the orders received by its Broadband Cable Networks division held steady at €101.4 million and €17.2 million respectively. Net profit fell by almost half to €5.5 million from €9.4 million at the end of 2007.

The Finnish technology company said the changes in the business environment had made its customer base increasingly cautious on their investment plans and that projects were being pushed back.

An increase in its order backlog of 11.6% was mainly attributable to the €12 million contract received from India’s Broadband Cable Networks in June.