Electrolux: shares up in Stockholm after solid results
(CercleFinance.com) - Shares in Sweden's Electrolux have jumped over 6% on Wednesday after the home appliance maker reported higher fourth-quarter sales and margins.
The Stockholm-based group said net sales increased to 32.36 billion Swedish kronor in the fourth quarter of 2017, compared with 32.14 billion Swedish kronor in the same period of 2016.
Organic sales growth reached a robust 4%.
Operating income increased to 1.97 billion Swedish kronor in the quarter, from 1.62 billion a year ago, representing a margin of 6.1%.
Electrolux also posted a full-year operating margin of 6.1%, up close to 20%.
On the back of these strong figures, Electrolux said it plans to increase its dividend for 2017 to 8.30 Swedish kronor per share, from 7.50 Swedish kronor previously.
Clearly optimistic, the group also confirmed that the trend in overall demand, which was positive across most markets in 2017, should continue into 2018.
As a result, Electrolux B shares were up 6.2% at 276.7 Swedish kronor in Stockholm on Tuesday at lunchtime.
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