Sweden's Getinge sees "turning point" in Western Europe
STOCKHOLM Oct 15 (Reuters) - Swedish medical technology firm Getinge said on Tuesday that order intake in Western Europe was improving and predicted an end to a two-year-long decline in the market.
Pretax profit for the quarter was 568 million Swedish crowns ($88 million). Getinge issued a profit warning last week saying pretax profit for the quarter would amount to between 560 million and 570 million Swedish crowns, noting this was below market expectations, but did not publish sales and order figures.
"The order intake in Western Europe has gradually improved and there is reason to believe that the market, which has been in decline since the end of 2011, has reached or is approaching a turning point, particularly in terms of medical device investment goods," Getinge said in a statement.
Order intake increased by 7.9 percent in Western Europe, adjusted for currency and acquisitions, Getinge said. Total order intake rose to 6.0 billion crowns from 5.7 billion last year, and rose by 2.4 percent organically.
Shares in Getinge, which fell 10 percent on Oct. 8 after the profit warning, were up 1.1 percent at 1134 GMT .
Link to full report: r.reuters.com/jec83v ($1 = 6.4580 Swedish crowns) (Reporting by Sven Nordenstam; Editing by Alistair Scrutton)
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- Flights delayed as air pollution hits record in Shanghai
- Amish girl in Ohio will not be forced to resume chemo for cancer
- South Africa mourns Mandela, will bury him on December 15 |