HiQ - strong growth and good profitability
HiQ - strong growth and good profitability HiQ is able to report greatly improved profitability and growth in the first half of 2004. Net sales increased by SEK 30.0 million to SEK 233.4 (203.4) million, which equals growth of 15%. Profit before goodwill (EBITA) increased by SEK 9.2 million to SEK 23.6 (14.4) million, equivalent to an EBITA margin of 10.1% (7.1). Pre-tax profit increased by SEK 9.5 million to SEK 14.4 (4.9) million. "The positive development that we saw in the first quarter this year has continued in the second. We have noticed a clear increase in the propensity to invest among our clients and HiQ is continuing to gain market share. As a result, we have succeeded in increasing both sales and profits substantially compared with last year," says Lars Stugemo, President and CEO of HiQ. In the first half HiQ's position in the market has strengthened in all its market segments and regions. HiQ is continuing to win important orders and during the period 66 new employees were recruited. "We are continually working on strengthening and adapting our organisation so as to offer our clients the best conceivable quality and skills, whatever the situation in the market. Even in the tough market climate of recent years HiQ has been able to maintain its focus on profits and quality. Now that the market is improving and demand is increasing, HiQ is well equipped to win clients in different regions and market segments. We have delivered a strong second quarter that I am very satisfied with," continues Stugemo. HiQ's President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Tuesday 17 April, at HiQ's 9th floor offices at Mäster Samuelsgatan 17 in Stockholm. The report can be ordered on +46 (0)8-588 90 000 or downloaded from www.hiq.se For further information, please contact: Lars Stugemo, President and CEO HiQ, tel.: +46 (0)8-588 90 000 Annika Larsson, CIO HiQ, tel.: +46 (0)8-588 90 015, +46 (0)704-200 103 HiQ is an IT and management consultancy that focuses on high-tech solutions in the fields of communication, software development and simulation technology. The company is a leader in these fields and the Nordic region is its domestic market. HiQ employs around 430 people at offices in Sweden, Finland and Denmark. HiQ is listed on Stockholmsbörsen's Attract 40 list. For more information, please visit www.hiq.se. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/17/20040817BIT20020/wkr0001.pdf