STOCKHOLM (dpa-AFX) - Swedish industrial group Indutrade AB (INDT.ST) Friday reported higher third-quarter profit compared with a year earlier, helped by growth in sales and orders.
Profit for the quarter rose 19 percent to 804 million Swedish Kronor from 674 million Kronor a year earlier, while earnings per share increased to 2.21 Krona from 1.85 Krona.
Net sales surged to 8.87 billion Kronor from 7.85 billion Kronor in the prior-year period.
EBITA grew to 1.36 billion Kronor from 1.14 billion Kronor, while the EBITA margin improved to 15.3% from 14.6%.
Order intake advanced to 8.99 billion Kronor from 7.74 billion Kronor. For comparable units, order intake rose 6%.
Indutrade said it had acquired or signed agreements to acquire 13 companies with combined annual sales of about 2.1 billion Kronor so far this year.
The company also announced the acquisition of Germany-based fire protection systems specialist Schraner GmbH. The acquisition closed on October 22 and is expected to have a marginally positive impact on earnings per share.
Looking ahead, Indutrade said a strong order backlog and continued acquisition activity provide a good foundation for coming quarters, although uncertainty remains in the broader economy due to geopolitical conditions.
On the Stockholm stock exchange, shares of Indutrade are currently losing 4.41 percent, changing hands at 247.20 Swedish Kronor.
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