Stockholm - Swedish heavy-vehicle and bus maker Scania posted higher second quarter profits Friday, driven by strong demand from Russia, the members of the Commonwealth of Independent States, Latin America and Asia.
Pre-tax profit for the quarter was 4.24 billion kronor (702 million dollars), compared to 2.89 billion kronor for the corresponding business period 2007 - well above analysts forecasts.
Second-quarter sales increased from 20.9 billion kronor to 23.89 billion kronor.
"Order bookings decreased in Europe, while demand was strong in Russia and other CIS countries as well as in Latin America and Asia," Chief Executive Leif Ostling said.