CONTINUED STRONG GROWTH AND INCREASED PROFITS
HiQ’s net sales for the first half amounted to SEK 652.6 (556.1) million, an increase of 17 percent compared with the same period last year. Operating profit (EBIT) was SEK 87.1 (74.7) million, an operating margin of 13.3 percent. Liquid assets amounted to SEK 125.4 (93.5) million.
“We have had a good second quarter, with net sales at the highest ever level for a quarter. Clients and co-workers are choosing HiQ and our headcount is higher than ever before. We also have a good cash flow and a stable financial situation says Lars Stugemo, President and CEO of HiQ.
The use of IT is growing and will continue to do so irrespective of the economic situation, Openness, technology and streamlining are becoming increasingly important in society. Openness is made possible as live images are streamed from the streets and squares of Northern Africa, but also from Stockholm Pride Parade and the political event Almedalsveckan on the island of Gotland.
The latest technology is making companies that have based their entire business on IT competitive. In the financial sector, for example, we are seeing securities trading being streamlined and taking place at an ever faster pace. HiQ is among those leading this development – along with our innovative, forward-looking clients.
“The Nordic region, which is HiQ’s market, has a thriving economy. We have benefitted from strong demand from our clients in the first half. We are a significant player in the Nordic region with successful clients and committed, responsible employees. The adventure we call IT has just started and we are with great confidence looking forward to an exciting autumn, finishes Lars Stugemo.
HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Tuesday 16 August, at HiQ’s new office at Regeringsgatan 20 in Stockholm.
The report can be requested by telephoning +46 8 588 90 000 or downloaded from www.hiq.se
HiQ discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. This press release was released for publication at 07:30 CET on 16 August 2011.
For further information, please contact:
Lars Stugemo, President and CEO HiQ, tel.: +46 8 588 90 000
Fredrik Malm, CFO and Head of IR at HiQ, tel.: +46 704 200 017
HiQ is an IT and management consultancy company focusing on high-tech solutions in the fields of communications and software development. The company is a leading player in these fields and the Nordic region is its domestic market. HiQ employs nearly 1,300 people at offices in the Nordic region and Russia. HiQ is listed on the NASDAQ OMX Stockholm Mid Cap. For more information, please visit www.hiq.se