Seco Tools, Fagersta, Sweden, reported sales in the third quarter were SEK 1.7 billion (US$257.8 million), up 19 percent over the same period a year ago. At fixed exchange rates, sales were up 24 percent. Profit increased 21 percent to SEK 198 million (US$30 million).
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For the first nine months, sales were SEK 5.2 billion (US$788.7 million), up 21 percent over the prior year period. Profit increased 37.5 percent to SEK 718 million (US$108.9 million).
\”All market regions continued to report growth during the quarter compared with the year-earlier period,\” said Lars Bergström, president and CEO. \”The most positive trend was noted in Central and Eastern Europe as well as NAFTA. Growth in Asian markets during the quarter was lower than previously; a development that was primarily driven by the weaker performance of the Chinese market.
\”Overall, the sales trend has leveled-off and the uncertainty regarding the future demand scenario has increased,\” Bergström said.