Fraud wipes out Studsvik's profit

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Fraud wipes out Studsvik's profit
Photo: Anders Wiklund/TT

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Nuclear technology company Studsvik reports a loss of 500,000 kronor for the third quarter of the year. This can be compared to the profit of 22.9 million during the same quarter a year earlier.

Sales increase to 200.8 million, up from 195.2 million.

The result is weighed down by a negative effect from an "advanced fraud" in the USA, which costs the company approximately one million dollars (corresponding to 10.1 million kronor), according to the quarterly report.

Since then, Studsvik has also been involved in suspicions directed against an individual employee, which TV4's Kalla Fakta has brought to light.

"The company immediately forwarded the material to the Security Police", writes Studsvik in the interim report.

CEO Karl Thedéen writes in a comment that the focus is now on improving profitability.

"We see an increased sales compared to the previous year, but we do not reach the same margin. This leads to us taking more powerful measures within the ongoing efficiency program", he writes in a comment in the interim report.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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