SKF Sees Q2 Volume Growth at Q1 Underlying Level

Resource from: CBCC Likes:2937

Apr 18,2008

SKF AB's chief executive Tom Johnstone said he expects second-quarter volume growth to amount to the same 'underlying' level as in the first quarter. He made the statement on a conference call in connection with the first-quarter results. In the first quarter, volume growth amounted to 4.9 percent year-on-year, but Johnstone said that the fact that the first quarter in 2008 had one fewer working day than in the first quarter of 2007, took 'around' 1.5 percentage points off this quarter's volume growth. Clarifying further, Johnstone said he expects 'around 6.0 to 6.5 percent' volume growth in the second quarter. Johnstone said he expects 'good' price/mix developments in the second quarter. He said the order book for the company's large-sized bearings is 'very' strong. 'They (ie the orders) are still coming through the door at a good pace,' Johnstone said.

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