Systemair AB (SYSR.ST) Thursday said that its second quarter profit came in higher from a year ago, helped by good performance in the European markets. The company's net sales rose 4 percent from the last-year period.
The Swedish manufacturer of ventilation products reported profit of 265.3 million Swedish Kroner or 1.28 Kroner per share in the second quarter, higher than 235.7 million Kroner or 1.14 Kroner per share in the same period last year.
According to Systemair AB, quarterly net sales climbed to 3.27 billion Kroner from 3.15 billion Kroner. 4.0 percent from the same period last year. After excluding foreign exchange effects and acquisitions, the net sales growth was 8.2 percent.
The company's operating profit or EBIT for the three-month period was 390 million Kroner, higher than 347 million Kroner in the corresponding quarter a year ago. During the quarter, operating margin climbed to 11.9 percent from 11.0 percent in the prior-year period.
On the Stockholm Exchange, SYSR.ST ended Wednesday's trading at 76.80 Swedish Kroner, up 0.36 percent.
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