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| Volvo Construction Equipment reduces losses in Q3 Despite net sales at Volvo Construction Equipment declining in the third quarter of 2009, efficiency measures contributed to a 37% reduction in operating loss since the previous quarter. The continued weakness in the world market for construction equipment was reflected in Volvo Construction Equipment's third quarter 2009 financial results. Net sales declined by 38% to SEK 8,176 M (13,213) during the period. However, the operating loss of SEK 787 M was considerably below the SEK 1,259 M experienced in the second quarter of 2009. This improvement is the result of efficiency measures being implemented at the company, inventory reductions and the adjustment of costs to current demand. The outlook for the full year is expected to see both the European and North American markets to have reduced by 50% during 2009 compared to last year, while the rest of the world is forecast to see a reduction in demand of between 40-50%. write your comments about the article :: © 2009 Construction News :: home page |