Atlas Copco Q4 profits up on strong volumes, prices; matches expectations |
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Thu, 01 Feb 2007 13:47
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STOCKHOLM (AFX) - Atlas Copco AB said fourth-quarter pretax profits rose 14 pct to 2.382 bln skr, on the back of significantly higher volumes and a positive price development.The number includes a one-time charge of 83 mln skr related to pension provisions.Market expectations were for a profit of 2.439 bln skr after financial items, excluding any extraordinary costs, according to SME Direkt.Atlas Copco said it is proposing a 3-for-1 share split (two ordinary shares and one redemption share) and distribution to shareholders of a total 44.75 skr per share through an annual dividend of 4.75 skr per share and an extra distribution of 40 skr per share through a mandatory share redemption programme.The total distributions amount to 27.315 bln skr.Atlas Copco said during the fourth quarter it repurchased 18.4 mln shares for 3.776 bln skr.The company said near-term demand for its products and services is expected to remain at the current high level.Sales totalled 13.582 bln skr, up from 11.982 bln a year earlier. Market expectations were for sales of 13.646 bln.TF.TFN-EuropeStockholm@thomson.comhc/ambCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Atlas Copco acquires German pneumatic tool supplier Rodcraft for undisclosed sum 