Recycling Machine-Maker Tomra Advances After Profit Beats Estimates

Tomra Systems ASA (TOM), a Norwegian maker of recycling machines, rose the most in four months in Oslo trading after reporting net income that beat estimates as sales jumped.

The shares rose as much as 7.9 percent, the most since March, and were up 5 percent at 47.9 kroner as of 9:47 a.m. in Oslo.

Net income in the second quarter rose to 108.1 million kroner ($19.4 million) from 64.4 million kroner a year earlier, the Asker-based company said today in a statement. The company was expected to make 105 million kroner in the period, according to a Bloomberg survey of analysts.

The company said profit attributable to the shareholders of the parent company after other comprehensive income was 77.6 million kroner.

To contact the reporter on this story: Josiane Kremer in Oslo at jkremer4@bloomberg.net

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net

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