STOCKHOLM: Home appliance maker Electrolux skidded to a slightly smaller than expected quarterly loss as costs for the aborted purchase of General Electric's white goods business weighed but marginally raised its North American market outlook.
The Swedish company, vying for market leadership with the likes of U.S. Whirlpool, reported a fourth-quarter operating loss of 202 million crowns ($23.7 million) versus a year-ago profit of 1.40 billion and a mean forecast loss of 300 million in a Reuters poll of analysts.
Results where dented by costs totalling 1.66 billion crowns related to the called-off acquisition of GE Appliances, mainly stemming from a termination fee to GE.
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