The Swedish automotive and furniture leather specialist, the Elmo Leather Group, has posted excellent results for the period ended December 31, 2002.

The firm says its operating profit increased 114.9% to SEK 16 million ($1.9 million), generated by the fact the firm’s income was not burdened with any restructuring costs. Elmo also says it benefited from lower fixed costs in the US, lower financial costs and improved margins, despite the strong krona.

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