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Rise in SKF's profit despite uncertainties



  

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Friday, 15 July 2011
Bearings giant SKF reports a profit before tax of Skr2.446 million for the second quarter of 2011. That compares with profit of Skr2.047 billion for the corresponding periods of 2010.

Analysts had on average expected a profit of Skr2.46 billion, according to Reuter’s consensuses.
Turnover amounted to Skr16.712 million, compared to Skr15.709 million kronor a year earlier.

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"Despite the increased uncertainty in the market, we expect good growth in demand for the Group during the third quarter, excluding the impact of the normal seasonal pattern. We will continue to invest in our business and implement measures necessary to offset high raw material costs and currency developments," SKF writes in the report.
By Scancomark.se Team



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