BT Industries' results slipped slightly in 2002, but "we have been able to compensate in volume terms through higher market shares", says chief executive Per Zaunders.

BT, world leader in the warehouse truck segment with about one fifth of the market, hoped to increase its share to 22 percent in 2002.

Orders received in 2002 rose to SEK12.556 billion (USD1.497 billion), up three per cent on 2001, but net sales fell seven per cent to SEK12.329 billion (USD1.469 billion).

Net income fell 10 per cent to SEK796 million (USD98.883 million).

Mr Zaunders said the world market was more stable in 2002 than in 2001, and showing signs of recovery, but the outlook for 2003 remained "difficult to predict". However, a slight increase in combustion-powered counterbalanced forklifts was predicted for this year.