Ball bearing company SKF reported a profit before tax of 2.241 billion SEK for the second quarter of 2015th
Analysts had on average expected a profit before tax of 2.223 billion SEK but sales declined from the expected 20.407 billion € to 19.961 billion.
The operating profit amounted to 2.383 billion crowns. Here was 2.458 billion crowns expected.
SKF predicts that demand for its products and services in the third quarter of 2015 will be slightly lower for the Group compared with the previous quarter.
Compared with last year’s third quarter, demand is expected to be relatively unchanged.
Before the report, analysts had on average expected unchanged demand.
In Europe, demand is predicted to be lower compared with the previous quarter. In SKF’s other regions, demand is expected to be relatively unchanged.
Danielson, CEO, writes in the report that the uncertainty surrounding the market demand in China has further increased in recent times.
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