Swedish technology group Addtech AB on Thursday reported a 6% rise in second-quarter sales and an 11% increase in a key profit measure, as it implemented a new organizational structure to drive future growth.
Net sales for the three months ended Sept. 30 rose to 5.45 billion Swedish kronor, up from 5.13 billion kronor a year earlier, the company said.
Operating profit before amortization of intangible assets, or EBITA, increased to 844 million kronor from 764 million kronor, with the corresponding margin strengthening to 15.5%.
The results were accompanied by a reorganization, announced in September, that took effect on Oct. 1.
The new structure comprises six business areas with what the company calls “clear and ambitious strategies for future growth.”
Addtech said organic sales growth was 4% in the quarter, an acceleration from the 1% organic growth it reported for the first quarter.
Since the start of its financial year in April, the company has completed three acquisitions with combined annual sales of about 465 million kronor.
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