Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the second quarter and the first half of 2012.
According to the financial results, Sandvik's profit for the second quarter was SEK 2.77 billion ($399.4 million), up 24 percent from SEK 2.22 billion in the same quarter of 2011. Order intake in the second quarter amounted to SEK 26.2 billion ($3.77 billion), remaining almost flat compared to the corresponding quarter of the previous year.
Sandvik's net profit for the first half of 2012 increased by 21 percent to SEK 5.27 billion ($759.9 million) year on year, while the order intake increased by seven percent year on year to SEK 55.08 billion ($7.9 billion).
According to Sandvik's statement, demand from the global mining industry remained strong also in the second quarter compared with the same quarter of the previous year. Order intake increased by 6 percent to SEK 10.3 billion ($1.48 billion). The mining industry performed strongly in most markets and Sandvik Mining secured major system orders in Asia.