STOCKHOLM, Jan 29 (Reuters) - SKF, the world’s largest maker of industrial bearings, reported stronger than expected quarterly sales growth and an in-line operating profit on Tuesday while forecasting roughly unchanged demand for the group in the first quarter.
SKF’s quarterly operating profit, boosted by the sale of its Motion Technologies business, rose to 2.90 billion Swedish crowns ($320.39 million) from a year-ago 2.02 billion, in line with a mean forecast of 2.89 billion in a poll of analysts.
SKF shares rose after the report and were up 3.3 percent by 1208 GMT. ($1 = 9.0515 Swedish crowns)
Reporting by Johannes Hellstrom