Cardo’s President on First Quarter
In his address at today's annual general meeting of Cardo AB, president and CEO Kjell Svensson included a reference to the trend during the first quarter of 2005: ...
"During the first quarter, the group's inflow of orders and invoicing, adjusted for the effects of exchange rate movements, were 4 percent lower than during the corresponding period 2004. In the Cardo Door business area, the inflow of orders was lower for all product areas except service. For the Cardo Pump business area, too, the inflow of orders decreased, despite a continued good trend in wastewater and water treatment applications."
"The lower invoicing is going to mean that earnings for the first quarter will be lower than the previous year."
"In the Report on Operations for 2004, we wrote that it was difficult to assess the trend in the immediate future as far as demand for construction-related products is concerned, while for wastewater and water treatment applications the assessment was that market growth would remain good. These market prospects still apply."
The interim report for the first quarter will be published on May 12 2005 and not on May 11 as previously announced.