Electrolux profits rise as sales grow across all businesses

MarketsAssociated Press

Electrolux, the world's second-largest maker of household appliances, says profit for the three months ending March 31 rose to 1.08 billion kronor ($120 million), up 24 percent from the same period a year earlier.

The Swedish company says its sales in the first quarter increased slightly by 2.7 percent to 29 billion kronor ($3.29 billion) as it saw an improvement across all of its businesses.

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Electrolux, based in Stockholm, saw its shares rise 8.5 percent to 269.7 kronor Friday after the first quarter results were published.

The group, which has about 55,000 employees worldwide, is selling products under brands like Electrolux, AEG, Zanussi and Frigidaire in more than 150 markets.