The result of Biohit in the first half weaker than anticipated.
BIOHIT OYJ STOCK EXCHANGE RELEASE 23 JUNE 2005
The result of Biohit in the first half weaker than anticipated.
Biohit starts personnel negotiations.
The growth of Biohit Group net sales in the beginning of 2005 was
lower than anticipated. The turnover of the Group during January-
May 2005 totalled EUR 11 million - i.e., an increase of only 1 %
as compared with the corresponding period in 2004. The main
reasons for the slow growth are the moderate growth in sales of
liquid handling products in China and India, in particular, as
well as the delay in business generation of diagnostic products.
Therefore the growth of net sales and the net profit of Biohit are
expected to be lower than in the previous year.
To ensure the profitability of the Group, Biohit will increase the
operational efficiency in the whole Group. As part of the measures
to improve operations, and in order to streamline personnel
related costs, the company starts personnel negotiations in the
end of June 2005. These measures will apply to the personnel in
Helsinki. According to preliminary plans, the measures may include
temporary dismissals for no more than 17 employees, or shortened
working hours for no more than 25 employees, should other measures
to increase net profit and to save costs not be sufficient.
Biohit Oyj
Osmo Suovaniemi
President & CEO
Further information: Osmo Suovaniemi, President & CEO
Tel: 09-773 861
GSM: +358-40-745 5605
Email: osmo.suovaniemi@biohit.com
http://www.biohit.com
Distribution: Helsinki Exchanges
Financial Supervisory Authority
Press