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In a press release, Husqvarna Group AB describes how the demand for forestry and horticulture was good in the second quarter after a slow start to the year. But their brands for cheap products, Consumer Brands, will lose 37 million and will be liquidated.
– So we will solve our Consumer Brands division and insert the remaining operations in the Husqvarna and Gardena divisions, according to Kai Wärn. The CEO is in a press release
The market is not suspended.
He believes that the reorganization will facilitate the redistribution of resources and focus on areas considered as the greatest potential for profitable growth. The interim report shows that net sales increased by 7% and operating profit amounted to SEK 1 925 million, which represents a slight decrease compared to last year. , to which the Stock Exchange has not reacted positively.
– The market was ready for Husqvarna to turn profitability into consumer brands, but when they announced that it takes too much time and power, the market reacts like that, says analyst Rasmus Engberg Scholar at Handelsbanken. The share of the AB group has so far decreased by 13% after the submission of the interim report.
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