The cost reductions enacted by Electrolux have allowed it to deliver a strong operational performance in the first quarter of 2009, the company's president and chief executive officer Hans Straberg has announced.

Commenting on the results, he said that the firm has put in a resilient performance and has been able to mitigate the dramatic decline in demand across the sector by implementing comprehensive cost reduction programmes.

The company has also been affected by currency fluctuations but has managed to report positive growth in the first quarter, he continued.

"In addition, investment in new products is paying off, as evidenced by an improved product mix and successful price increases in many markets," he added.

Looking forward, the business will focus on exploiting opportunities that will enable it to respond quickly to the eventual uptick in demand for home electricals and appliances.

In the trading update, the company conceded that the market in Europe had been particularly weak, while the income from appliances in North America was comparable to the first quarter of 2008. ADNFCR-1903-ID-19141561-ADNFCR

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