Electrolux Posts Weak Profit

Electrolux AB ELUXY reported a downbeat net profit for the three months ending 31 Mar. 2013. Electrolux's quarterly net profit dropped to SEK361 million ($54.71 million), from SEK501 million, in the year-earlier period. However, analysts were expecting a profit of EK519.6 million. Its revenue fell to SEK25.33 billion from SEK25.88 billion, versus estimates of SEK25.56 billion. Its operating profit declined to SEK638 million, from SEK907 million. Electrolux shares closed at $51.15 yesterday.