Sweden's Electrolux sees profits jump in Q2

[July 19, 2012]  STOCKHOLM (AP) -- Electrolux, the world's second-largest maker of household appliances, says second-quarter profits rose around 12 percent thanks to stronger sales in emerging markets as well as a round of successful product price increases in North America.

The Stockholm-based group, a maker of washing machines, dryers, refrigerators and vacuum cleaners, on Thursday reported a net profit of 1.26 billion kronor ($181 million) in the three-month period, up from 1.14 billion kronor in the same quarter a year ago.

Revenues rose to 27.76 billion kronor from 24.14 billion kronor, boosted by sales growth in Latin America, Southeast Asia and Eastern Europe.

Although the company continues to report higher raw material costs and weaker demand in Western Europe, it is still increasing its market share there.

[Associated Press]

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