Kährs Group (Malmo, Sweden) lost SEK 20 million ($2.38 million USD) in the third quarter of 2017, down almost 200 percent from its reported profit of SEK 21 million ($2.5 million USD) in the same period of 2016, according to the company’s report.
The decrease is attributed to tariff costs in the United States and changes in production structure in Finland, the company reported.
Sales for the quarter were SEK 729 million ($86.84 million USD), a 2.96 percent increase compared with sales of SEK 708 million ($84.34 million USD) in the third quarter of 2016. Hardwood flooring made up 88 percent of sales in the third quarter of 2017.
“By actively driving design and innovation Kährs will further strengthen its position as market leader on several of our core markets,” said CEO Christer Persson in a statement. “We will continue to develop our hardwood flooring, as well as our PVC-free resilient flooring, towards new objectives—always based on the needs and expectations of our customers.”
