Swedish Electrolux Q3 profits hit USD130m

(MENAFN) Swedish electrical appliance maker Electrolux's third-quarter net profit grew from 42 percent to reach USD130 million due to a cost-cutting program started at the end of 2013, AFP reported.

Sales over the quarter grew 5.6 percent to reach USD4.01 million, slightly increase than the USD3.95 million expected by analysts.

Electrolux said in a statement that its European operations were performing better due to the reduced costs and improved management of product portfolios.


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