Electrolux sees strong growth in Q2 buoyed by N America

Markets Associated Press

Swedish household appliance maker AB Electrolux says second-quarter sales and profit showed strong growth, buoyed by high demand in Eastern Europe and North America.

Continue Reading Below

Net profit in the period jumped more than 20 percent to 1.3 billion kronor ($157 million) compared with 2016, and sales grew more than 5 percent to 31.5 billion kronor, the company said Wednesday.

CEO Jonas Samuelson predicted 1 percent growth in a "positive" market in Europe with higher figures — of 3 to 4 percent — expected in the U.S. and Canada.

"With a good trend during the first half of the year, the market for appliances in North America remains strong," Samuelson said Wednesday.

He said the European market remains "solid," but cautioned that Britain, the Middle East and Africa "continue to be weak."