Swedish-based majap manufacturer, Electrolux, has posted a rise of 6 per cent in net sales while net income increased 42 per cent for the three months, ended September 30 this year.
Representatives for the company cited increased majap market demand from the US as one of the factors in the increase in sales, with net sales for Electrolux products in North America rising by 11.3 per cent.
There were some declines in sales, particularly in the air conditioning and freezer markets during a mild US summer, and refrigerator shipments were affected by some of the new models requiring stricter US regulations for energy efficiency which came into effect next year.
These two factors contributed to a drop of 8 per cent for this sector of Electrolux products, and in a statement, CEO Keith McLoughlin said he predicted sales in North America will remain healthy and that the majap business “continues to deliver results with a good contribution to the (company’s) earnings.”
On another note, McLoughlin said he was “excited about the upcoming transaction to acquire GE Appliances,” which is due to happen later this year.
Electrolux in Australia is a subsidiary of the Swedish-based company, but the company does carry out the manufacture of some products locally – there is a fridge manufacturing plant in Orange and a stove and oven manufacturing plant in Adelaide for Electrolux and all of its inhouse brands, including Kelvinator, Chef and Simpson.