Electrolux third-quarter profits, sale ups buoyed by American growth, efficiency in Europe

MarketsAssociated Press

Electrolux says third-quarter growth in the Americas and increased efficiency in Europe helped the home-appliance maker achieve a 42 percent jump in earnings, with overall sales growth of more than 5 percent.

Net profit in the three-month period was 933 million kronor ($130 million), while revenue grew to 28.8 billion kronor.

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The Swedish company, which last month announced a $3.3 billion acquisition of the appliances business of General Electric, said Monday that demand for core appliances in North America increased by some 8 percent but that was offset by transition costs for new energy requirements and lower sales of air-conditioners.

The world's second-largest appliance maker has more than 60,000 employees, including 10,000 in North America where its regional headquarters are in Charlotte, North Carolina.