Increased profits for Viking Sewing Machines AB

Increased profits for Viking Sewing Machines AB Sewing machine manufacturer Viking Sewing Machines AB's first quarter sales jumped 67 percent compared with the corresponding period last year. Earnings before financial items rose 27 percent, from SEK 26.8 million to SEK 34.1 million. "We continued to enjoy strong growth in the USA and have not yet noticed any fall off," said Svante Runnquist, MD for Viking Sewing Machines AB. Viking Sewing Machines AB's position was strengthened by the acquisition of German sewing machine manufacturer Pfaff last year. The positive trend continued from January to March this year and turnover rose strongly. "The Pfaff acquisition along with the integration work associated with the purchase, has gone very well. I am expecting this integration work to produce positive results as early as this year," added Svante Runnquist. This quarter also saw the European premiere of the computerised sewing machine the Designer II, that can be tailored to customer requirements. The launch attracted a great deal of interest. For further information, please contact Svante Runnquist, MD, tel +45 (0) 36 14 66 82 Gunnar Vidén, Finance Director, tel +46 (0) 36 14 72 47 Hans-Peter Hindrikson, PR International, +46 (0) 3614 73 70, +46 (0) 70 699 37 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/11/18/20021118BIT00430/wkr0001.doc http://www.waymaker.net/bitonline/2002/11/18/20021118BIT00430/wkr0002.pdf