Electrolux profits plunge in 2011, weak demand forecast

STOCKHOLM (Reuters) - The U.S.

The Swedish appliance maker Electrolux unveiled on Thursday a 35.6 percent jump in its second-quarter net profit, well above expectations owing to strong demand from emerging markets.From April through June, Electrolux made a net profit of 761 million kronor (89.3 million euros, $109.7 million), a statement said, surpassing an average analyst forecast of 652 million kronor compiled by Dow Jones Newswires.Sales were 15 percent higher at 27.76 billion kronor, slightly better than the 26.71 billion forecast by analysts.

STOCKHOLM (AP) -- Swedish appliance maker Electrolux AB saw its profits plunge in the fourth quarter in an increasingly competitive market as the pressure on prices increased and the sector was hit by higher raw-material costs and weaker demand....

Electrolux, a leading global maker of household appliances, on Tuesday reported a profit slump because of high materials prices and weak demand, and warned of difficult trading conditions for the rest of the year.Net profit for the second quarter dropped by 46.0 percent from the figure last year, and the price of shares in the group slumped by 11.2 percent to 128.40 kroner in early trading in a market showing an overall gain of 1.2 percent.

[AP] - Swedish appliance maker Electrolux AB said Thursday that its president and chief executive Hans Straberg has resigned and will be replaced by vice president Keith McLoughlin.

By 2010-09-23T08:32:55Z STOCKHOLM (AP) -- Swedish appliance maker Electrolux AB says its president and chief executive Hans Straberg has resigned and will be replaced by Vice President Keith McLoughlin....