Electrolux Q3 underlying opg little changed; below market expectations |
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Published
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Mon, 22 Oct 2007 07:29
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STOCKHOLM (Thomson Financial) - Electrolux AB said third quarter profit after financial items, excluding items affecting comparability, fell 8.6 pct to 1.037 bln skr, hit primarily by sharply higher borrowing costs.Underlying operating profits rose 1.4 pct to 1.152 bln skr, supported by good volume growth, an improved product mix and more efficient production, but lower income for appliances in Europe arising from costs related to product launches, and higher costs for raw materials, had an adverse effect on profits.Underlying operating margins were unchanged at 4.4 pct.Market expectations were for an underlying third-quarter profit after financials of 1.119 bln skr, and an underlying operating profit of 1.241 bln skr, and margins of 4.7 pct, according to SME Direkt.hans.chumakonde@thomson.comhc/jfrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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