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Profits - Sweden - Scania posts surprise Q3 profit dip, orders strong
STOCKHOLM,Sweden -Autonews/Reuters -Nov 01, 2005: -- Scania, Europe's number four truck maker, blamed higher costs for an unexpected fall in third-quarter pretax earnings but said on Tuesday that order bookings would stay strong through the first half of 2006... Scania's third quarter earnings break the mould of truck makers routinely churning out record profits in recent quarters on the back of strong demand on both sides of the Atlantic... Late last month, Scania's domestic rival and world number two Volvo beat expectations with a 42 percent rise in underlying pretax earnings and market leader DaimlerChrysler AG's trucks division tripled its operating profit... The firm said high oil prices and continued uncertainty about economic developments in certain countries made it difficult to forecast market demand in the short term... Visibility into next year was made even more opaque by environmental legislation, set to be introduced on new vehicles during the autumn, which could prompt customers to increase purchases of older, cheaper trucks ahead of the new rules.
posted by Unknown @ 3:09 PM
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