Nov 13, 2009. /Lesprom Network/. Finnish equipment and components supplier Vaahto reports a loss for fiscal year ending August 31. Vaahto Group's turnover for the fiscal period was Euro 75.7 million (73.2) and operating loss Euro 2.3 million (operating profit 0.6 million). Earnings per share were - Euro 0.81. The Board of Directors will propose that no dividends be paid, the company said in a press release received by Lesprom Network. The loss accumulated during the first half of the fiscal year, when the turnover was clearly below the previous year’s levels. In the latter half of the fiscal year, the economic development improved as a consequence of recognition of delivery projects and cost-adjustment procedures. With the project deliveries completed at the end of the fiscal year, Vaahto Group's order backlog decreased clearly in the final months of the period, coming to Euro 17.1 million (Euro 54.4 million) on August 31. The Pulp and Paper Machinery division’s turnover for the period under review was Euro 52.1 million (39.5 million), with an operating loss of Euro 2.4 million (operating loss of 3.3 million). The division’s loss in the period under review was accumulated in the first half of the fiscal year. In the latter half of the fiscal year, the turnover increased as a result of recognition of delivery projects completed at the end of the period. Cost-adjustment procedures also contributed to the improved development. The division’s result for the second half was slightly to the positive.