"At its December meeting, the committee judged that, at the existing level of Bank Rate and looking through the volatility in inflation associated with the movements in Value Added Tax, there remained a substantial risk of undershooting
the 2% CPI inflation target in the medium term.
'If they had changed their exchange rate forecast assumption earlier, it is possible that interest rates would have been cut earlier and inflation might not now be undershooting
the target,' the report argues.
5 May 2011 - Swedish construction group Skanska AB (STO: SKA B) saw its net profit halve to SEK335m in the first quarter of 2011, reflecting lower revenues and undershooting
analyst expectations of SEK515m.
Securitas saw its pretax profit shrink 18% year-on-year to SEK527.2m in the first quarter of 2011, undershooting
analyst expectations of SEK610m.
4 May 2011 - Swedish company Lundin Petroleum AB (STO: LUPE) said today its net profit more than doubled to USD55.1m in the first quarter of 2011, undershooting
, however, analyst expectations of USD59.1m.
4 May 2011 - Swedish security services provider Securitas AB (STO: SECU B) said today its pretax profit shrank 18% year-on-year to SEK527.2m in the first quarter of 2011, undershooting
analysts expectations of SEK610m.
Operating profit jumped 42% year-on-year to SEK684m, also undershooting
the SEK697m market expectations.
Yesterday, H&M said its pretax profit had shrunk to SEK3.538bn in its first fiscal quarter to February 2011 from a year-earlier SEK5.055bn, undershooting
the market consensus by 6%.
30 March 2011 - Swedish fashion retailer Kappahl Holding AB (STO: KAHL) said today its pretax profit plunged to SEK1m in the second fiscal quarter to February 2011, reflecting lower sales and undershooting
the market consensus.
As a result, EBITDA shrank to DKK329m from DKK622m, undershooting
the company's own guidance for DKK360m.
At the same time, sales dropped to SEK2.908bn from SEK3.038bn, undershooting
the SEK2.930bn market consensus.
Yesterday, Alfa Laval said its net profit fell to SEK610m in the first quarter of 2010 from SEK758m a year earlier, slightly undershooting
the SEK613m consensus estimate in an analyst poll by SME Direkt.