BioTech

Medical equipment group Elekta's Q1 profit beats expectations

Swedish radiation therapy equipment maker Elekta on Wednesday reported bigger-than-expected fiscal first-quarter profit despite a decline in sales due to the COVID-19 pandemic.

STOCKHOLM, Aug 26 (Reuters) - Swedish radiation therapy equipment maker Elekta EKTAb.ST on Wednesday reported bigger-than-expected fiscal first-quarter profit despite a decline in sales due to the COVID-19 pandemic.

Operating profit jumped 42% from a year earlier to 335 million crowns ($38.21 million). Four analysts polled by Refinitiv had on average forecast a profit of 172 million crowns.

Profit before interest, tax and amortisation grew 23% to 551 million crowns.

($1 = 8.7668 Swedish crowns)

(Reporting by Anna Ringstrom, Editing by Supantha Mukherjee)

((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))

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