Interim Report from ProfilGruppen AB (publ.), January – September 2008

Declining market

Third Quarter

* Turnover MSEK 259.1 (257.1), up 1 per cent compared with previous year

* Operating profit MSEK 10.7 (13.9), down 23 per cent

* Earnings per share SEK 1.30 (1.76), down 26 per cent

Nine months

* Turnover MSEK 865.5 (886.3), down 2 per cent compared with previous year

* Operating profit MSEK 39.9 (47.2), down 15 per cent

* Net income MSEK 24.8 (29.5), down 16 per cent

* Cash flow from current operations MSEK -4.3 (37.0)

* Earnings per share SEK 5.03 (5.99), down 16 per cent

* Return on capital employed 18.8 per cent (22.7)

Nils Arthur, President and CEO of ProfilGruppen says,

“The weakening demand has, as a consequence of the financial crisis, been worsened. This has influenced the result of the third quarter to a limited extent, but the impact is estimated to be more significant in the fourth quarter.

We have already taken actions to adapt to the current market situation. Among other things, on the 8th of October, we initiated negotiations with the unions regarding staffing level cutbacks of 55 employees. Simultaneously we implement the investment programme decided earlier this year in order to secure our long term competitiveness.”

Documents and links