Electrolux shares soar after earnings announcement
Shares in domestic appliance manufacturer Electrolux soared to a new record on Wednesday after the firm reported better-than-expected earnings figures.
According to Reuters, Electrolux shares were up by more than 11 per cent in morning trading after the firm announced that its adjusted operating earnings had increased by more than 20 per cent in the fourth quarter of 2014.
The company also noted that it expected to register growth in Europe of between one and two per cent in 2015 - up from the previous estimate of between nought and one per cent - with growth of between three and five per cent expected in North America.
Growth in the Middle East and North Africa, meanwhile, registered 6.9 per cent last year - Electrolux's strongest showing in the region since 2009.
"We believe 2015 will be another year with positive growth for Electrolux and the appliance industry," said chief executive Keith McLoughlin in a news conference.