Swedish high-technology engineering and steelmaking group Sandvik has issued its financial results for the second quarter and the first half of the current year.
According to its financial results, Sandvik's net profit for the fourth quarter was SEK 1.71 billion ($200.17 million), increasing by 12 percent compared to the corresponding period of 2014. Order intake in the given quarter amounted to SEK 22.74 billion ($2.66 billion), down four percent year on year.
In the first half, the company posted a net profit of SEK 2.12 billion ($248.2 million), falling 30 percent year on year, while its order intake decreased by eight percent to SEK 45.9 billion ($5.4 billion) compared to the corresponding period of the previous year.
“Sandvik Mining noted a neutral book-to-bill for mining equipment and the aftermarket combined for the second consecutive quarter, while demand for mining systems remained weak” the company said.