Fagerhult Group AB (FAG.ST), a manufacturer of lighting solutions, Monday reported increased earnings for the third quarter compared to last year, with higher net sales and growth in orders.
Looking ahead, Bodil Sonesson, President and CEO, said, "The long-term structural drivers also remain, providing favourable preconditions for future progress. We maintain a positive outlook, with strong trends supporting growth across our business areas. … Our ongoing initiatives and investments are laying a strong foundation for the Group's continued development."
On the Stockholm Stock Exchange, shares were trading 3.60 percent higher at 43.20 Swedish Kronor.
For the reported period, net earnings attributable to shareholders of the parent was 85.6 million Swedish Kronor, higher than 54 million kronor in the prior year.
The company's earnings per share grew to 0.49 krona from 0.31 krona a year ago.
For the latest quarter, operating profit increased 29.1 percent of 150.5 million kronor from 116.6 million kronor last year.
Operating profit before IAC, meanwhile, declined to 147.1 million kronor from 181.3 million kronor in the earlier year, amid higher administrative expenses.
Selling and administrative expenses increased by 7.7 percent to 659 million kronor from 612 million kronor last year.
Fagerhult's net sales were up 5.6 percent to 2.03 billion kronor from 1.92 billion kronor in the prior year quarter.
Order intake increased 4.2 percent to 1.95 billion kronor from 1.87 billion kronor a year ago.
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