Swedish manufacturer Atlas Copco (STO: ATCOA, ATCOB), reported sales for the first quarter of SEK 21.4 billion (US$3.3 billion), a 5.9 percent increase year-over-year. Organic sales decreased 2 percent. Profit for the quarter decreased 7.8 percent to SEK 2.8 billion (US$426.5 million).
“We see positive signs in the industrial and construction segments, while it is still challenging in the mining area,” said Ronnie Leten, president and CEO. “The demand from the mining industry is expected to remain at the current level, while the demand from manufacturing and construction segments is expected to increase somewhat.”