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Swedish manufacturer Atlas Copco (STO: ATCOA, ATCOB), reported sales for the first quarter of SEK 23.1 billion (US$2.8 billion), a 6.5 percent decrease year-over-year. Organic sales decreased 3 percent.
Profit for the quarter decreased 10 percent to SEK 2.9 billion (US$0.4 billion).
“The market conditions for equipment investments are difficult in many segments, while our service business continued to grow,” said Ronnie Leten, president & CEO.