Electrolux Third-Quarter Seen Falling
Oct 18, 2002
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Household-appliance maker Electrolux AB will probably say third-quarter pretax profit fell 15 percent to 1.86 billion kronor (U.S. $199 million) from 2.20 billion kronor a year ago, according to the average forecast of 14 analysts surveyed by SME Direkt.
Last year's figure includes a 3.12 billion kronor gain from the sale of part of the leisure appliances business as well as a charge of 1.76 billion kronor for writing down assets and cutting jobs in the professional indoor products unit. Excluding the items, pretax profit is expected to more than double.
The Swedish retailer is slated to report third-quarter earnings on Tuesday, Oct. 22. (Bloomberg News)

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