Monthly report November 1998
Monthly report as of November 1998 HL Display AB (publ) Sales for January to November up by 34.9% to MSEK 601.0 (445.4) compared to 1997 Profit before tax rose by 11.7 % to MSEK 73.0 (65.4) compared to corresponding period 1997 Full year forecast has been adjusted to MSEK 73 from MSEK 80 January to November in brief The consolidated sales for January to November increased by 34.9 per cent to MSEK 601.0 (445.4). This shows a continued stable growth. The Profit before tax for January to November was up by 11.7 per cent, amounting to MSEK 73.0 (65.4). During November three newly appointed Managing Directors of production units commenced their new assignments. The first action has been to review the operations of these units. This resulted in unforeseen stock write-downs of approximately MSEK 5. Profit is also reduced by the slow inflow of orders to the factories in Falun and Lesjöfors. Additional investments in Shop System, the new business concept, have been charged to income in Sweden and Norway. The full year forecast has been adjusted accordingly from a profit of approximately MSEK 80 to MSEK 73. The weakening of the Swedish Krona has affected both sales and profit favourably. Translation gain on consolidation improved profit by MSEK 3.2 (1.4) during January to November. Investments in fixed assets amounted to MSEK 58.5 (27.2). These mainly pertain to production plants according to the investment plan for increased production capacity. Stockholm 21/12/98 Anders Remius Managing Director HL Display's business concept is to offer the retail trade and its suppliers customer-adapted display systems, which with a high degree of flexibility, short response time and in a cost-efficient manner will provide price and product information to the ultimate customer at the point of sale. To business editors: Press release for immediate publication Contact persons: Anders Remius, President and Kent Hertzell, Financial Director Telephone:070-664 31 77 or 070-543 48 96 Internet: www.hl-display.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/12/21/19981221BIT00150/bit0001.doc http://www.bit.se/bitonline/1998/12/21/19981221BIT00150/bit0002.pdf