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Electrolux profit disappoints

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Electrolux profit disappoints

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Sweden’s Electrolux posted core profit for last year that was just below expectations.

The world’s second-biggest maker of home appliances said earning before interest and tax were almost 200 million euros.

Its shares slumped 12 percent.

Unlike some of its rivals, Electrolux was cautious about the recovery from the economic downturn and forecast only a modest improvement in demand this year.