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Daily News

Husqvarna 2Q Profit Increases
Jul 26, 2007
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Husqvarna AB, a Swedish maker of chainsaws and other outdoor tools, said that second-quarter profit rose 34% after recently acquired business began contributing to earnings.

Net income rose to 1.07 billion kronor (US$161 million; €117 million) in the second quarter from 797 million kronor in the same period last year, boosted by the acquisition of smaller rival Gardena and by internal growth at both its consumer and professional products businesses.

Sales rose 19% to 12.05 billion kronor ($1.8 billion; €1.3 billion).

Husqvarna said its operating profit was mainly boosted by its acquisition of Gardena late last year despite a one-time charge of 53 million kronor ($7.96 million; €5.77 million) related to the purchase.

Overall, Husqvarna's consumer products unit showed higher operating income and margin, even excluding the Gardena acquisition.

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