Sandvik profits up
30 October 2008
Sandvik Mining and Construction recorded third quarter sales of SEK 9,4 billion (€ 966 million), a +15% increase (excluding currency effects) on the SEK 8,4 billion (€ 858 million) reported for the corresponding quarter in 2007.
Third quarter profits for the division rose +6% to SEK 1,3 billion (€ 136 million) from SEK 1,2 billion (€ 128 million) in the third quarter of 2007.
Demand for equipment, tools and service in the mining industry remained strong in Asia, Africa and Australia, favourable in Europe and South America and stable in the US, Canada and Mexico, said a company statement.
A weakening within the construction industry was noted in the Southern Europe, the US, Canada and Mexico, but the trend remained strong in Northern Europe and Asia, particularly in China and India, continued the statement.
Overall for the Sandvik Group, third quarter sales rose +6% from SEK 21 billion (€ 2,1 billion) in 2007 to SEK 22,4 billion (€ 2,3 billion) in the third quarter of 2008, although profits only rose +0,6% for the period to SEK 3,5 billion (€ 366 million).STAY CONNECTED
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