Electrolux reported an operating profit below expectations for the second quarter and reaffirmed its forecast of a rise in demand this year in its main markets.
Operating income was 1.5 billion kronor (157 million) excluding exceptional items, against one billion kroner in the second quarter of 2009.The 17 banks and brokerages surveyed by Reuters had expected a net profit of 1.6 billion kronor for the period Apr-Jun 2010.
At 7:36 GMT, yielded 5.0% to 158.70 kronor on the Stockholm Stock Exchange.
"The demand for appliances on the group's main markets should be growing during 2010," the Swedish group in a statement.
The second largest manufacturer of household appliances has been forced to sharply reduce its costs to cope with the slowdown in consumption last year but said its main markets had continued to recover in the second quarter.
Electrolux said the North American market had risen for the third consecutive quarter after 13 quarters of contraction.
"At the industry level, the supply of aircraft destined for the United States in the second quarter would have increased approximately 10%," the group said.
"The entire European market has stabilized during the quarter, with major markets such as Germany, France and Sweden showing positive trends," he added, while noting that southern markets Europe had suffered a sharp slowdown over the period.
'The demand in eastern Europe has increased somewhat, further stated Electrolux.
