Economy. Workshop Group Atlas Copco managed to keep up the new orders more than expected in the second quarter. Shares lifted by more than three percent on the Stockholm Stock Exchange after the interim report.
Atlas Copco reported a pretax profit of 4.42 billion kronor for the second quarter of 2016. That compares with profit of 4.85 billion kronor a year ago.
Analysts had on average expected a profit of 4.433 billion kronor, according to Reuters.
turnover amounted to 25.438 billion kronor, compared with 26 111 million a year earlier.
the order intake decreased by three percent to 25.934 billion crowns. It was better than analysts had expected. The average forecast was 25 253 million. A shares rose by more than three percent immediately after the release.
Atlas Copco expects demand to come will remain at the current level.
According to the company, demand for industrial compressors and tools solid while low activity in building and construction and cutbacks in the mining industry affected the activities of equipment and service.
“Bright spots in the quarter include Asia, especially India, where all business grew,” writes CEO Ronnie Leten in a statement.
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