NIBE Industrier AB (NIBEB.SW), a Swedish heating, cooling and energy systems manufacturer, on Tuesday reported higher first-quarter profit, mainly due to decline in costs.
Operating profit increased to SEK 868 million from SEK 782 million a year earlier.
Profit after net financial items rose to SEK 675 million from SEK 514 million last year.
Net profit attributable to parent shareholders increased to SEK 505 million, or SEK 0.25 per share, from SEK 392 million, or SEK 0.19 per share, a year earlier.
Net sales were broadly flat at SEK 9.650 billion, compared with SEK 9.673 billion last year. Cost of goods sold declined to SEK 6.672 billion from SEK 6.804 billion a year earlier.
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