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New lawnmower book; GGP and Gianni Ferrari; Husqvarna; new branches for Browns and Lloyd; Stephen Bernhard
IN THIS ISSUE
NEW LAWNMOWER MANUAL
GGP & GIANNI FERRARI TEAM UP
HUSQVARNA BEAT FORECAST IN Q2
EXTENDED PREMISES FOR LLOYD LTD
NEW ESSEX BRANCH FOR BROWNS
STIHL TIMBERSPORTS ACTION
WIN A DAY AT SILVERSTONE
KUBOTA LAUNCH NEW WEBSITE
HONOUR FOR STEPHEN BERNHARD
LARGER TRACTORS MORE POPULAR
ARGO TO OPEN BRAZIL FACTORY
SPEARHEAD APPOINT
JCB MUD RUN RAISES £50,000
KEYNOTE LUNCH FOR GIE-EXPO
CUB CADET FOR EVENTING CHAMPION
AND FINALLY . . .
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HUSQVARNA BEAT FORECAST IN Q2
Strong European sales

 
Husqvarna

Husqvarna posted a bigger than expected rise in earnings in the key second quarter as an early spring spurred demand in Europe and cost cuts lifted profitability.

The second quarter is key for Husqvarna as the gardening season moves into top gear on both sides of the North Atlantic, where it chalks up nearly all its sales.

Operating profit at Husqvarna, which is seen generating more than half its full year profit in the second quarter, rose to 1.38 billion SK (£118 million) from 1.02 billion SK for the same period last year..

The Swedish company said strong demand, above all in Europe where a favourable weather added impetus, and cost cuts across the group had lifted earnings, but added a note of caution concerning the current quarter.

"From a demand perspective the third quarter may be more challenging in terms of comparison with prior year, as 2013 benefited from a favourable garden season," Chief Executive Kai Warn said in a statement.

Husqvarna is in the midst of a drive to boost its operating margin to 10 percent in 2016 and turn the corner on problems it encountered in North American that was hit by a botched move of production and rising cost for deliveries to retailers according to Reuters.

"The positive signs in the first quarter have all trended into the second quarter; the reduction of direct material costs is sustained and we are driving favourable mix by prioritizing our premium brands," Husqvarna said.


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