(Reuters) -Swedish industrial technology group Hexagon reported a smaller than expected drop in its quarterly operating profit on Friday, but said the continued market uncertainty made it difficult to forecast results for the remainder of the year.
The maker of measurement and positioning systems said its adjusted operating earnings fell 10% to 360.6 million euros ($423.6 million) in the April-June period, from last year’s 399.5 million euros. That beat the 358.1 million euro estimate from 12 analysts polled by LSEG.
“Organic growth in the second quarter was 3%, as the divisions mitigated delays in customer decision making due to ongoing geopolitical uncertainty,” Anders Svensson, who took over as CEO earlier in July, said in the earnings statement.
($1 = 0.8513 euros)
(Reporting by Marta Frąckowiak in Gdansk; Editing by Milla Nissi-Prussak)
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