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Sweden's BE Group sees Q4 earnings rise

Sweden's BE Group sees Q4 earnings rise
Issue Time:2017-02-10

Swedishsteel trading company BE Group’s earnings grew during the fourth quarter of2016, as a result of restructuring and increasing steel prices in Europe, thecompany said.

The company’s earnings before interest andtaxes (Ebit) reached SKr4 million ($465,584) in October-December 2016, comparedwith a loss of SKr14 million ($1.59 million) in the corresponding period of2015. "After several years of declining prices, which resulted ininventory losses, this year’s upward price trend continued during the quarter,which led to inventory gains of SKr11 million [$1.25 million]. This, togetherwith an improved underlying performance, generated...

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