ERJ staff report (DS)
Stockholm, Sweden -- Trelleborg's profits jumped in the first quarter of 2010, despite a modest increase in sales. This comes as a result of the cost-savings achived in the last year.
Sales increased to SEK 7054 million (euro 733 million) from SEK 6877 million, but operating profits rocketed to SEK 501 million from SEK 46 million
The results were presented at the company's Annual General Meeting, where CEO Peter Nilsson said, â€œThe year 2009 was a dramatic one, with a sharp decline in demand, to which we swiftly and effectively adapted ourselves. Dramatic times create opportunities and Trelleborg forcefully seized on these opportunities and emerged a stronger Group than before the crisis. We are well prepared for the future with contingencies for both a rise and decline in the market.â€
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Press release from Trelleborg