Stockholm  - Swedish home appliance maker Electrolux's share price gained Thursday after the group's second-quarter pre-tax earnings topped market estimates.

The group posted a pre-tax profit of 932 million kronor (119 million dollars), compared to 140 million kronor in the corresponding business period 2008. The net profit was
658 million kronor.

Net sales were up 7.4 per cent to 27.4 billion kronor in second-quarter 2009.

The share price was up over 9 per cent in late morning trading.

"Our cost reduction efforts and strong product offering are showing results," Chief Executive Hans Straberg said in a statement.

"The market development continues to be very weak," he added, citing that the North American market has declined for 12 consecutive quarters while in Europe, demand has dropped for six consecutive quarters.

There were however some signs that the North American market was "beginning to reach the bottom," Straberg said.

The group said the raw material market was "very uncertain," with rising costs for copper and plastic. Steel prices were lower.

In recent years, the group has moved production from plants in countries like Germany, Britain and Sweden to Poland, and from the US to Mexico.

Electrolux had some 49,500 employees at the end of June, compared to some 55,000 employees at the end of 2008.(dpa)