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Electrolux posts strong volume growth in Asia

Electrolux posts strong volume growth in Asia

By Agence France-Presse | Updated: 19 July 2012 16:07 IST

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The Swedish appliance maker Electrolux unveiled on Thursday a 35.6 percent jump in its second-quarter net profit, well above expectations owing to strong demand from emerging markets.

From April through June, Electrolux made a net profit of 761 million kronor (89.3 million euros, $109.7 million), a statement said, surpassing an average analyst forecast of 652 million kronor compiled by Dow Jones Newswires.

Sales were 15 percent higher at 27.76 billion kronor, slightly better than the 26.71 billion forecast by analysts.

"Our operations in Latin America and Asia showed strong volume growth and earnings in North America were up significantly," Chief Executive Keith McLoughlin said in a statement.

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Further reading: Asia, Electrolux, Latiin America, appliance maker