STOCKHOLM (dpa-AFX) - NIBE Industrier AB (NIABY, NIBE-B.ST), a manufacturer of heating, cooling and energy systems, reported Thursday lower profit in its fourth quarter amid nearly flat net sales. Further, the firm announced higher dividend.
In Stockholm, the shares were gaining around 7.4 percent, trading at 39.59 kronor.
In the fourth quarter, net profit attributable to Parent shareholders fell to 785 million Swedish kronor from last year's 1.38 billion kronor.
Operating profit declined to 1.26 billion kronor from 1.67 billion kronor a year ago. Adjusted operating profit amounted to 1.44 billion kronor, up from 1.13 billion kronor last year. Adjusted operating margin improved to 13.1 percent from prior year's 10.2 percent.
Net sales edged down to 11 billion kronor from prior year's 11.025 billion kronor. Net sales grew 6.8 percent at fixed exchange rates
Further, the Board of directors proposes a dividend of 0.35 krona per share, higher than 0.30 korna per share last year.
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