Interim report January - June 2003

Interim report January - June 2003 Second quarter · Earnings net of financial items for the second quarter amounted to SEK 0.5 million (-1.4m), an improvement of SEK 1.9 million. · Revenues for the second quarter totalled SEK 64.5 million (68.2m). · Cost-saving measures have helped reduce total operating expenses by SEK 6.4 million, a reduction of 9 per cent compared to last year. Six months · Earnings net of financial items were up SEK 12.0 million compared with last year. · Earnings net of financial items totalled SEK -6.8 million (-18.9m). · The improvement in earnings is attributable to cost savings programmes completed by Frango that will enable the company to return to profitability for the full year. · Operating expenses were reduced by 12 per cent, or SEK 16.5 million. · Revenues for the period amounted to SEK 121.0 million (125.5m). The decline is related solely to the strength of the Swedish krona and its impact on translation rates. Release of next financial report The interim report for the third quarter of 2003 will be published on 14 October 2003. Stockholm, 11 July 2003 Tom Löfstedt Managing Director Frango AB (publ) Corporate identity no. 556153-4347 For further information, please contact: Tom Löfstedt, Managing Director, or Karl Ove Grönqvist, CFO, tel. +46 (0)8 555 775 00. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/11/20030711BIT00070/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/07/11/20030711BIT00070/wkr0002.pdf The full report