October 22, 2019 / 6:13 AM / a month ago

Husqvarna Q3 operating profit lags expectations

STOCKHOLM, Oct 22 (Reuters) - Husqvarna, the world’s biggest maker of gardening power tools, reported on Tuesday a smaller third-quarter operating profit than expected and said weakened demand in North America hit sales.

The Swedish group swung to a 414 million crown ($43.0 million) profit from a year-ago loss of 124 million. Analysts had on average forecast a profit of 443 million crowns, according to Refinitiv estimates.

The maker of lawn mowers and trimmers does the bulk of its business towards the end of the first quarter and in the second - ahead of and during peak gardening season in the northern hemisphere. ($1 = 9.6376 Swedish crowns) (Reporting by Anna Ringstrom; editing by Johannes Hellstrom)

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