Electrolux Reports Drop in Profit
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.