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UPDATE 2-Electrolux shares hit record after profit beat and upbeat outlook

2015-01-28 22:16:51| Appliances - Topix.net

Home appliances maker Electrolux AB has raised its growth forecast for European markets this year after cost cuts powered it to a bigger than expected rise in quarterly earnings, sending its shares to a record high. The Sweden-based group, which makes fridges and dish washers under brands such as AEG and Zanussi as well as its own name, saw cost cuts in 2014 from years of plant closures kick in to fortify earnings amid tepid demand outside a firmly expanding U.S. market.

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