Sandvik posts 21 percent profit rise

Tool maker Sandvik reported a net profit of 2.7 billion kronor for the second quarter 2006, an increase of 21 percent compared to the same period last year.

Sales went up eight percent to 17.9 billion kronor.

“It is exactly in line with estimates regarding results and the outlook continues to be good,” said Mats Liss, an analyst with Swedbank.