SKF Q4 pretax undershoots consensus

Newswire

STOCKHOLM, Jan 26 (Reuters) - Sweden's SKF , the world's biggest bearing maker, reported fourth quarter pretax earnings below consensus on Thursday and proposed a higher cash dividend and to buy back up to 5 percent of its own shares. Quarterly pretax profit rose to 1.28 billion crowns ($169.4 million) from 1.11 billion a year earlier, undershooting the average forecast of 1.32 billion seen in a Reuters poll of 15 analysts. The firm said it expected demand in the fourth quarter to remain ...

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