INTERIM REPORT, MAY 1 – OCTOBER 31, 2005

Increased sales and improved earnings

Six months (May 2005 – October 2005)  Net sales amounted to SEK 526.0 M (383.4), up 37% from the year-earlier period. The increase for comparable stores was 10% (14).  Profit after tax totaled SEK 52.7 M (24.4). Earnings per share rose to SEK 1.97 (1.01).  The Group’s net investments affecting liquidity during the period amounted to SEK 84.1 M (34.0). Operative cash flow after investments was negative in an amount of SEK 36.1 M (0.3). Second Quarter (August 2005 – October 2005) Net sales amounted to SEK 281.8 M (216.5), up 30% from the year-earlier period. The increase for comparable stores was 6% (8). Profit after tax totaled SEK 24.6 M (14.9). Earnings per share rose to SEK 0.91 (0.61). The Group’s net investments affecting liquidity during the period amounted to SEK 14.9 M (17.2). Operative cash flow after investments was negative in an amount of SEK 21.9 M (-2.3).