Electra grows with new smartphone releases

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Consumer electronics company Electra Group reported a net profit of 19 million SEK for the fourth quarter of 2014. Sales increased by 7 percent compared with the same period last year.
A large part of the increase consists of mobile phone sales.

Operating profit was SEK 19 million (19) and net profit amounted to SEK 15 million (14) or equivalent SEK 2.85 per share (2.71). Net sales were SEK 554 million (518).

“The increase is mainly attributable to new product releases in mobile telephony,” the company reports.

Electra Retail, supplying to affiliated stores in Audio Video, Digitalbutikerna, Ring Up, Euronics and e-commerce operators, however, reduce turnover by 2.3 percent compared to the same quarter last year.