STOCKHOLM, April 27 (Reuters) - Swedish truck maker Scania reported first-quarter profits above expectations on Tuesday on rebounding demand but said a switch to production of new trucks will limit its deliveries in 2004.
Europe's third-biggest truck maker made a pretax profit of 1.32 billion crowns ($172 million) in the January-March period against 1.19 billion expected in a Reuters poll of 11 analysts and 1.15 billion in the year-ago period.
Sales rose to 13.08 billion crowns, also beating consensus of 12.79 billion, and up from 12.18 billion a year earlier.
"The year has started better than expected," Scania Chief Executive Leif Ostling said.
"Scania launched the new R-series trucks at the end of March and the reception in our sales organization has been very good. The changeover of production will mean certain limitations in our delivery capacity during 2004," he said.