Business News: Electrolux, Nordea, IKEA
Electrolux, the world’s number two appliance maker, posted third quarter profits just above expectations Wednesday.
Electrolux reported pre-tax earnings of 155 million dollars, and says it is paying almost 800 million dollars in dividends to stockholders, after the spin-off of its Husqvarna unit.
Nordea, the Nordic region’s biggest bank, posted a 46 percent increase in third quarter operating profit Wednesday. The earnings, which were above expectations, were attributed to strong revenue growth and cost control.
Swedish furniture giant Ikea has announced it plans to open three factories in Portugal by 2010. The world’s largest furniture retailer says production at the new plants would be aimed mostly at the export market.