Kährs Group, the Swedish parent company of Kährs International Inc., reported a profit of $27 million SEK ($3 million USD) during the second quarter of 2018, a decline of 22.8 percent compared with the same period in 2017.
Kährs Group, the Swedish parent company of Kährs International Inc., reported a profit of $27 million SEK ($3 million USD) during the second quarter of 2018, a decline of 22.8 percent compared with the same period in 2017.
Net sales totaled $844 million SEK ($95 million USD), an increase of 7 percent compared with the second quarter of 2017, when the company reported net sales of $792 million SEK ($88 million USD).
The company said the Nordics and Resilient Global segments had the strongest growth during the quarter, and sales for the Europe and other markets recorded declines.
Kährs President and CEO Christer Persson said the company experienced raw material challenges at the start of the year, which included “unfavorable weather conditions with a long winter, followed by a very warm and dry spring.”
The company is also engaged in a new strategy to create “the next-generation Kährs,” Persson said in a statement. “This initiative involves issues such as product, the role of e-commerce in our sales, brands, acquisitions and the value chain,” he added.
He concluded that 2018 “is off to a good start, despite the disadvantages of unfavorable currency developments and some tendencies towards a slowdown in a few of our core markets.”