Alfa Laval: quarterly profit up, but demand to fall
(CercleFinance.com) - Swedish engineering group Alfa Laval posted higher quarterly profit on Wednesday, although said that it expected demand in the second quarter to be "somewhat lower" than in the first.
Adjusted EBITA - the group's standard measure of its profitability - rose to 1.73 billion Swedish kronor from 1.50 billion Swedish kronor a year earlier.
Sales at the maker of marine pumps and heat exchangers rose 15% to 10.15 billion kronor in the past quarter, from 8.85 billion kronor a year ago.
Alfa Laval said its order intake jumped by 22% to 12.21 billion kronor in the first three months of the year.
However, the group expects demand in the second quarter to be "somewhat lower" than in the first quarter, it said in the report.
Alfa Laval shares fell 2.7% in early afternoon trading today, significantly underperforming a 0.5% rise in Stockholm's OMXS 30 index.
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