STOCKHOLM (dpa-AFX) - Getinge AB (GETI-B.ST), a medtech company, on Tuesday reported a profit before tax of SEK 789 million for the third quarter, a sharp increase from SEK 32 million in the same period a year earlier, mainly reflecting the absence of certain one-off items.
In the prior-year quarter, the company had recognized provisions related to investigations concerning the CGU in Brazil-SEK 289 million for Acute Care Therapies and SEK 193 million for Surgical Workflows.
Excluding one-time items, adjusted profit before tax rose to SEK 916 million from SEK 751 million in the prior year.
Operating profit declined to SEK 952 million from SEK 184 million last year.
Net profit surged to SEK 576 million or SEK 2.08 per share from SEK 8 million or SEK 0.01 per share a year ago.
Adjusted profit was SEK 668 million or SEK 2.42 per share, up from SEK 618 million or SEK 2.24 per share a year earlier.
Sales for the quarter grew to SEK 8.226 billion from SEK 7.87 billion for the previous year.
For the full year, the company has reaffirmed its sales growth outlook of 2%-5% organically.
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