Atlas Copco First Half Hit By Strong Crown

But, reporting a 12 per cent rise in first-half profit after financial items, the company forecast earnings for the full year would still be higher than in 1995 even though demand was expected to remain unchanged.

Demand for the full year 1996 is expected to remain unchanged compared to 1995 levels, and earnings are expected to improve, the company said in a statement.

Market conditions are, however, still uncertain, it added.

Atlas reported a 12 per cent lift in profit after financial items to 1.57 billion crowns.

This profit included a gain of 342 million crowns related to the sale of VOAC Hydraulics and restructuring costs of 225 million crowns within the indsturial technology business area.

 

Sales for the half year rose six per cent from a year ago to 12.37 billion crowns.

Orders received increased three per cent to 12.98 billion crowns.

The strengthening of the Swedish crown had, however, a negative effect of nine per cent, the company said.