Scania First-Quarter Profit Rises 21%

Swedish truck maker Scania AB’s first-quarter net income rose 21% to about $420 million, or 52 cents a share, from about $350 million, or 44 cents, last year, Bloomberg reported Monday.

Sales rose 15% to about $3.6 billion, led by sales in Russia and Eastern Europe, Bloomberg said.

Chief Executive Officer Leif Oestling, reiterating plans for 10% increases in sales in coming years, said today that demand remains strong in Russia and elsewhere in the former Soviet Union, Bloomberg reported.

Overall truck orders fell 29% to 18,131 vehicles, led by a 40% drop in Western Europe, amid concern wariness about economic prospects, Scania said, according to Bloomberg.