STOCKHOLM Feb 1 Home appliances maker
Electrolux reported a smaller-than-expected rise in
core operating profit for the fourth quarter after being hit by
falling European sales and hoped North America and emerging
markets would help it this year.
The Swedish company, second only to U.S. rival Whirlpool in
size, reported core operating earnings, stripping out one-off
items, of 1.6 billion Swedish crowns. That was up from the
comparable 1.4 billion in the same period of 2011 but just below
the average forecast in a Reuters poll of 1.7 billion.
"We expect that the weak market in Europe will probably be
offset by growth in North America and the emerging markets (in
2013)," chief executive Keith McLoughlin said in a statement.
Whirlpool on Thursday reported a higher-than-expected
quarterly profit and gave a strong outlook for 2013.