Sandvik Posts Rise In Q4 Profit

Swedish company

reported a gain in its fourth-quarter net profit. Sandvik's quarterly net profit surged to 1.50 billion Swedish kronor ($183 million), versus a year-ago profit of SEK46 million. Its sales surged to SEK23.39 billion from SEK21.77 billion, while operating profit climbed to SEK2.62 billion from SEK590 million. Analysts projected an operating profit of SEK2.4 billion. Sandvik shares gained 0.10% to close at $9.61 yesterday.