Sandvik Q3 profits rise as all units improve; below consensus |
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Published
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Fri, 26 Oct 2007 07:07
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STOCKHOLM (Thomson Financial) - Sandvik AB said its third-quarter profit after financials rose 20 pct to 3.104 bln skr, on the back of strong demand, with all business areas improving profits and margins.Market expectations were for a third-quarter profit after financials of 3.337 bln skr, according to a survey by SME Direkt.Sales rose 21 pct to 21.216 bln skr, ahead of market expectations of 21.076 bln skr. Excluding currencies and for comparable units, sales rose 16 pct.Order intake amounted to 21.259 bln skr, up 11 pct from a year earlier excluding currencies and for comparable units. Market expectations were for an order intake of 21.765 bln skr.'The underlying driving forces remained strong and demand for Sandvik's products was high during the third quarter. High volumes and capacity utilization offset the usual seasonal weakening,' said Sandvik's chief executive, Lars Pettersson.hans.chumakonde@thomson.comhc/wjCOPYRIGHTCopyright 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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Petroleum Geo-Services Q3 beats forecasts, sees FY 2008 stronger than 2007 