Electrolux Reports 56% Profit Leap

July 19, 2010
Selling more advanced products

Electrolux, the second-biggest global maker of household electrical equipment, reported a 56% rise in net profit for the second quarter on July 19.

The company said that this represented a record result for a second quarter.

The net outcome for the quarter was 1.03 billion kronor from 658 million kronor in the same quarter of 2009. Sales slipped by 1% to 27.31 billion kronor.

Chief executive Hans Straaberg said: "We are on track and presenting a record second-quarter result. We are on track and can today present a margin of 6.5% for the latest 12-month period.

"All business areas show improved profitability. We are selling more advanced products and are step by step improving our position in the important premium segment."

He said that despite "great uncertainty", he continued to think that "2010 could be the year we approach our goal of an operating margin of 6% with continued improved capital efficiency."

Copyright Agence France-Presse, 2010

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