Nobia: Continued favourable growth rate
During the third quarter, kitchen company Nobia increased its net sales by 24 per cent to SEK 3,631 million (2,930). Organic growth amounted to 11 per cent. Profit after tax increased by 35 per cent and earnings per share amounted to SEK 3.22 (2.39). The operating margin strengthened to 7.7 per cent (7.5). Operating profit rose by 27 per cent to SEK 280 million (220).
The improvement in operating profit during the third quarter was the result of increased sales in all regions, and the positive contribution to operating profit from the French business unit Hygena. The operating margin also improved in the UK.
Comments from the CEO:
"Growth in sales and profits remained favourable during the quarter," says President and CEO Fredrik Cappelen. "We are also pleased that our activities in the UK have successively yielded results and that we can see an improvement in demand in Continental Europe."