STOCKHOLM (dpa-AFX) - Husqvarna AB (HSQVY.PK, HUSQ-B.ST, HUSQ_A.ST, HUSQ_B.ST) on Thursday said that its first-quarter net profit rose from last year, helped by good performance from the Forest & Garden Division. Net sales fell 5 percent from the year-ago quarter, negatively impacted by the changes in exchange rates.
The Swedish manufacturer of outdoor power products reported net income attributable to equity holders of the parent company of 1.17 billion Swedish Kroner or 2.05 Kroner per share in the first quarter, higher than 970 million Kroner or 1.69 Kroner per share in the same period last year.
During the three months, net sales declined to 13.96 billion Kroner from 14.70 billion Kroner in the previous year quarter. On an organic basis, net sales, however, grew 2 percent.
The company's first quarter operating income rose to 1.71 billion Kroner from 1.53 billion Kroner a year ago, while the operating margin climbed to 12.3 percent from last year's 10.4 percent.
On the Stockholm Exchange, HUSQ-B.ST ended Wednesday's trading at 39.73 Swedish Kroner, down 0.68 Kroner or 1.68 percent.
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