Profits rise at Atlas Copco
24 October 2011
Atlas Copco reported a 37% year-on-year rise in net profit for the nine months to 30 September, 2011, to SEK9.6 billion (€1 billion).
The equipment manufacturer's sales also rose 17% for the period to SEK58.9 billion (€6.5 billion) amid increases at all its business segments.
But the company, which this year restructured its operations and increased business divisions from three to four, said it expected overall demand for its products and services to weaken in the short-term.
Ronnie Leten, president and CEO of Atlas Copco, said, "Considering the softening we have seen in the construction industry and the generally uncertain market situation, we have reviewed our contingency plans. We are confident that our operations are fit and well prepared, however the market develops."
The company recently announced a string of acquisitions, including that of SCA Schucker, a Germany-based manufacturer of adhesive equipment - a deal that Atlas Copco said presented new growth opportunities.
"We will continuously review potential acquisitions to add new technologies, but it is even more important that we remain focused on product development and innovation," Mr Leten said.