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Electrolux Reports Drop in Profit

Published tisdag 15 februari 2005 kl 12.20

Electrolux AB, the world’s biggest maker of household appliances, announced Tuesday that it would spin off its outdoor products unit as it reported a drop in fourth-quarter profit.

The Stockholm based company posted a net profit of US$ 103.9 million for the quarter that ended December 31st.  Revenue was up slightly, at US$ 4 billion, from the same period last year.

The company also said it would delist its American Depositary Receipts from the NASDAQ Stock Market, citing low trading volume.

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