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Financial report of Electrolux better than expectings

The Swedish appliance company Electrolux announced 56% rise in profit for the second quarter on an annual basis. However, revenues dropped, mainly due to reduced demand in southern Europe at the end of the reporting period, reported Wall Street Journal. Earnings per Elecrolux amounted to 1.03 billion Swedish kronor (140.6 million dollars). A year earlier the success of the company was 658 million kronor, and now analysts expect it to grow to 908 million kroner. The revenue the company reported a minimal decrease from 27.48 to 27.31 billion kronor, which coincides with the preliminary expectations. Operating profit did increase from 1.05 to 1.27 billion kroner. From the company's statement shows that demand for the U.S. market increased by 10 percent during the reporting period. In Europe as a whole, stabilization, and at the end of the quarter was registered significant drop in demand in southern Europe, indicated by the company. The company is leader it while technique producing and for the period repaid debt consolidation loans from the previous year. This was serious sign for recovering of the company after hard years of debts, loans and unknown future, because of the sales decrease.