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Good Reports from Scania, SEB, SKF

Published onsdag 26 april 2006 kl 11.21

As more first quarter reports are filed, several Swedish companies are showing healthy earnings.

Scania, Europe’s number four heavy truck maker, posted a bigger-than-expected rise in pretax profits Wednesday, with a 26 percent increase in operating income.

Domestic competitor Volvo, the world’s second largest truck maker, reported an unexpected 23 percent jump in first-quarter earnings Tuesday. The improvement in truck sales is attributed to buying ahead of upcoming tighter emissions controls in Europe and North America.

The Swedish bank SEB reported a better-than-expected 36 percent increase in first quarter operating profits Wednesday, boosted by strong capital markets.

SKF, the world’s biggest maker of ball bearings, also posted a 36 percent rise in its profit for the period, saying it expects an even better second quarter.

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