Automotive company SKF has reported 2016 operating profit, excluding one-time items, of SEK 1,741 million, which was slightly higher than last year.

Organic sales increased by 3.3% in the quarter, compared to the corresponding quarter last year, driven mainly by strong growth in Asia for both cars and trucks.

‘In 2016 we have seen market conditions gradually improve and SKF is now growing again,’ said Alrik Danielson, president and CEO. […] For the first quarter 2017, demand for our products and services is expected to be slightly higher compared to last year and relatively unchanged compared to the fourth quarter of 2016.’

This story is reprinted from material from SKF, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.