Bilia sees Q1 operating profit at 525 mln SEK, above market forecasts
14/04/2021 07:56
STOCKHOLM, April 14 (Reuters) - Swedish car dealership chain
Bilia BILIa.ST expects an operating profit significantly above
market expectations in the first quarter, it said on Wednesday.
Bilia, which has around 140 facilities mostly in Sweden and
Norway, said its quarterly operating profit would rise to around
525 million crowns ($61.8 million) from 279 million in the
year-ago quarter.
"The development in Norway has remained very good during the
first quarter 2021, which together with a good development in
both the Service and Car Businesses for other operations in the
Group contributed to the higher operational earnings," it said
in a statement.
Bilia, which is due to report earnings on April 27, added
that deliveries of new cars in Sweden had been at a high level
due to new tax rules introduced from April 1.
($1 = 8.4931 Swedish crowns)
(Reporting by Helena Soderpalm; Editing by Simon Johnson)
((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))