Swedish manufacturer Atlas Copco, (STO: ATCOA, ATCOB), Nacka, Sweden, reported sales for the second quarter of SEK 25.4 billion (US$3 billion), a 3 percent decrease over the same period a year ago. Organic sales declined 1 percent.
Profit decreased 12.7 percent to SEK 3.2 billion (US$0.4 billion).
Demand in the quarter was solid for industrial compressors and tools, but the relatively low activity in the construction business and recent closure and downsizing of mines impacted the equipment and service business.
“Bright spots in the quarter include Asia, especially India, where all business areas grew,” said Ronnie Leten, president and CEO of the Atlas Copco Group.