Austrian hi-tech machinery maker Andritz AG (ANDR.VI) Monday reported a 75% year-on-year increase in third-quarter net profit, helped by a pick up in demand, and said it expects business to remain good for the remainder of the year.

Andritz didn't provide specific results guidance, but said it anticipates a slight increase in full-year sales, and that there will be a further positive impact on net profit from cost saving measures initiated in 2009.

"Andritz expects solid project activity to continue for the remaining months of the 2010 business year," the company said in a statement.

Net profit in the third quarter was EUR47.3 million, up from EUR27.1 million, while earnings before interest and taxes, or EBIT, rose 81%, to EUR63.5 million.

Andritz said in particular its pulp and paper plant machinery-producing division experienced a good improvement in demand, helping it increase sales by 40% during the quarter.

Sales for the group as a whole rose 19% during the quarter to EUR896.6 million, Andritz said.

-By Flemming E. Hansen, Dow Jones Newswires; +43 1 513 69 22 10; flemming.hansen@dowjones.com
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