UPDATE 2-Electrolux sees anaemic growth in Europe as cost cuts lift profit

lunes 20 de octubre de 2014 05:57 GYT

* CEO sees Europe market growth of about 1 pct in 2014

* Forecast at low end of range

* Says U.S. appliances growth of 4-5 pct "reasonable"

* Q3 core profit 1.39 bln SEK vs forecast 1.33 bln SEK

* Shares rise 6.5 pct (Adds news conference, share, analyst comment)

By Niklas Pollard and Johannes Hellstrom

STOCKHOLM, Oct 20 (Reuters) - Global home appliances maker Electrolux struck a note of caution over its European business, predicting market growth at the low end of its forecast range after reporting slightly better than expected quarterly profit on Monday.

The Swedish group, vying for market leadership with U.S. rival Whirlpool and China's Haier, said it expected demand in Europe, which accounts for around a third of sales, to grow about 1 percent this year, at the bottom of its expectations for expansion of 1-3 percent.

"The market in Europe is weak. It is weaker than we would have anticipated at the beginning of the year," Chief Executive Keith McLoughlin told a news conference.   Continuación...