Sweco rises as Q3 beats expectations

Sweco AB (publ)

27/10/2023 08:44

** Shares in Sweco  SWECb.ST  rise more than 6% after the
Swedish engineering and architecture consultancy company posted
improved Q3 results, beating estimates
    ** The company's Q3 EBITA comes in at SEK 465 million 
($41.67 million), beating the estimate seen in an LSEG poll 
    ** "Third quarter marked a significant improvement compared
to last year, with net sales growth of 19% and an EBITA
improvement of 41%, adjusted for calendar effects," said Sweco's
CEO Åsa Bergman in an earnings statement
    ** The CEO attributed the year-on-year improvement to fee
increases and continued recruitment, among other things
    ** Shares track their best day in eight months, and are
among the top performers on the STOXX 600 index  .STOXX 


($1 = 11.1598 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))