Swedish home appliance maker Electrolux on Monday reported higher third-quarter income 2008 but said the financial crisis was now affecting sales.
The group posted a pre-tax profit of 1.19 billion kronor (149 million dollars), up some 14 per cent on the corresponding business period 2007.
Net sales were flat at 26.3 billion kronor.
"The financial crisis has without a doubt affected the consumption levels of appliances. Many consumers are postponing their purchases or choosing less expensive products," chief executive Hans Straberg said in a statement.
Straberg noted that the group's North American market had declined for the ninth quarter in a row, and sales were nearing 2001 levels.
The group said it was pleased with its launch in the premium sector in the US while cost-cutting measures and production moves had helped offset declining prices and volumes in Europe.
For the full-year 2008, Electrolux expected an operating income of 3.3 to 3.9 billion kronor, but citing "increasing uncertainty in the overall global economy" did not post a market outlook for the rest of 2008.
In recent years, the group has moved production from plants in countries like Germany, Britain and Sweden to Poland, and from the US to Mexico.
Electrolux had some 56,000 employees at the end of September.
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