Slight profit fall at Scania

Swedish truck and bus maker Scania has reported pre-tax profits of 1.15 billion kronor for the third quarter of 2005. This compares to a profit of 1.31 billion kronor in the same period in 2004.

Turnover increased to 14.21 billion kronor from 13.32 billion last year.

“Based on Scania’s order books in the second and third quarters, and with the rate of production we have today, our judgment is that this year’s results will be somewhat better than last year’s,” CEO Leif Östling writes in the company’s report.

Orders for trucks and buses rose to 13,455 during the third quarter. In the same quarter last year, this figure was at 13.311. Deliveries fell from 12,668 to 12,226.

The company’s shares fell immediately after the report was released.

TT/The Local