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Healthcare

Sandvik Q1 order intake top forecasts, profit lags

STOCKHOLM, April 20 (Reuters) - Sweden’s Sandvik, the world’s biggest maker of metal-cutting tools, on Monday reported quarterly order intake ahead of market forecasts while its core profit slightly lagged analysts’ expectations.

Sandvik’s first-quarter adjusted operating profit was 3.73 billion Swedish crowns ($374 million), down from 4.57 billion in 2019, and just below the 3.86 billion seen in a Refinitiv poll of analysts.

Order intake was 25.4 billion crowns, down 11% organically, but ahead of the 24.1 billion mean analyst forecast. ($1 = 9.9677 Swedish crowns) (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

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