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by Mark Halper, ME Editorial Staff
Posted on Tuesday, October 21, 2008 11:13:29 AM Sign Up to receive Daily News Alerts in your E-mail Inbox   | Abstract: | Profits double at the Swedish ERP provider on the back of defense and process contracts. |
| Keywords: | Swedish ERP provider, unscathed by global economic woes, global economic woes |
Swedish ERP provider IFS defied the global economic gloom in the third quarter ended Sept. 30, reporting a 16% rise in sales to SKr 612 million and a 110% leap in EBIT profits to SKr 42 million.
Profits included charges for a restructuring program started in the second quarter.
IFS CEO Alastair Sorbie attributed the upbeat performance to the company’s continuing focus on defense and “project-oriented” industries. New wins included a contract with Lockheed Martin — the delayed closing of which had suppressed results in the second quarter.
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