SKF: positive developments in second-quarter.
(CercleFinance.com) - Swedish bearings maker SKF said on Friday that second-quarter saw strong organic growth, with an improvement in its operating margin.
The Göteborg-based group said sales development was positive in all regions, with total net sales increasing 7.5% in organic terms, compared to second-quarter last year.
North America and Asia reported double-digit growth, at 10% and 12% respectively.
Pre-tax profit increased to over two billion Swedish kronor, versus 1.66 billion Swedish kronor a year earlier, with an operating margin that was up from 10.2% to 11.4%.
In a statement, SKF says it expects to see continued broad-based industrial activity and growth in second-half 2017.
For the third-quarter, demand for its products and services is expected to increase relative to the same period last year, the group said.
After opening up, SKF shares fell back down this morning on the Nasdaq Nordic market, down 3.7% at 167.8 Swedish kronor.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Göteborg-based group said sales development was positive in all regions, with total net sales increasing 7.5% in organic terms, compared to second-quarter last year.
North America and Asia reported double-digit growth, at 10% and 12% respectively.
Pre-tax profit increased to over two billion Swedish kronor, versus 1.66 billion Swedish kronor a year earlier, with an operating margin that was up from 10.2% to 11.4%.
In a statement, SKF says it expects to see continued broad-based industrial activity and growth in second-half 2017.
For the third-quarter, demand for its products and services is expected to increase relative to the same period last year, the group said.
After opening up, SKF shares fell back down this morning on the Nasdaq Nordic market, down 3.7% at 167.8 Swedish kronor.
Copyright (c) 2017 CercleFinance.com. All rights reserved.