 Rising steel prices have been compounded by waning demand |
Electrolux, the world's largest maker of consumer electronics, has said third-quarter profits have been hit by higher raw material costs. The price of steel, for example, has more than doubled since 2003.
Electrolux issued a profit warning last month, saying that earnings would miss targets in the second half of 2004.
Pre-tax profits in the three months through September fell 27% to 944m Swedish kronor (�72m; $131m) from a year earlier, it said on Wednesday.
Sales were little changed during the third quarter, dipping 3% to 29.6bn kronor.
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