Wihlborgs improved result by 36% to SEK 192 million
Wihlborgs improved result by 36% to SEK 192 million Interim report January-March 2003 · The profit after financial items increased to SEK 192 million (141) · EPS after tax increased to SEK 2.21 (1.60) · Wihlborgs owns 7,186,500 B shares in Drott AB (publ), equivalent to 8% of the capital and 7.6% of the votes · Repurchase of 302,900 own shares during the period. Total holding of 720,400 shares, equivalent to 1.2% of the capital and votes Wihlborgs' profit after financial items increased by 36% to SEK 192 million (141). EPS after tax rose to SEK 2.21 (1.60). The profit includes gains from property sales amounting to SEK 122 million (45). "We can record a good result and development despite the recession and the fact that because of seasonal expenses the first quarter is often the weakest in the year " comments Erik Paulsson, president and CEO, Wihlborgs Fastigheter AB. "In a situation in which the Stockholm market has weakened it is gratifying to note that Wihlborgs' other main market, the Öresund region, is still stable and is displaying a good demand for premises. Our strategy of focusing on these two main markets is thus showing its strength," Erik Paulsson continues. "Through our investment in Drott we are getting part of a very interesting property stock at a great discount. We assess that there are great possibilities for an increased pace of change and value-creating development within Drott." Appendix: Interim report January-March 2003 For further information: Erik Paulsson, president and CEO, tel +46 (0)8-555 148 18, +46 (0)733-87 18 18 Olle Knaust, CFO, tel +46 (0)8-555 148 10, +46 (0)733-87 18 10 Mats Berg, communications manager, tel +46 (0)8-555 148 20, +46 (0)733- 87 18 20 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/05/05/20030505BIT00160/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/05/05/20030505BIT00160/wkr0002.pdf The full report