Report January - April 1999
Report January - April 1999 *Sales for January to April up by 17.8% to SEK 239.4 m (203.3) compared to 1998. *Profit before tax amounted to SEK 12.2 m (23.2). The result includes a translation loss on consolidation of SEK -3.0 m (-0.9). January to April in brief The consolidated sales for the period increased by 17.8 per cent to SEK 239.4 m (203.3). The increase in sales of datastrip following the introduction of the Euro has been slower than expected. Primarily shops have been concentrating on changing their cash registers and associated software. Sales within the business area Shop Systems have developed better in Sweden than in Norway, but on the whole, the result in this area is not in line with expectations. Operating profit amounted to SEK 16.3 m (24.6). The lower result is primarily explained by the fact that the extended production capacity is not fully utilized for the time being. Profit before tax was SEK 12.2 m (23.2). This includes a translation loss on consolidation of -3.0 (-0.9). This is explained by the strengthening of the Swedish Krona to other Group currencies, primarily to the Euro, since the beginning of this year. Net investments in fixed assets amounted to SEK 19.4 m (20.5). In addition SEK 7.9 m (2.4) is related to acquisitions. During April HL Display has established a new subsidiary in Russia and acquired the Latvian distributor. The effects on 1999 will be minor, but we believe it to be strategically important to establish on these markets. These subsidiaries will be consolidated as from May 1999. Stockholm 18/05/99 Anders Remius Managing Director HL Display shall increase customer profitability by offering the retail trade and its suppliers cost efficient, customer-adapted display systems. Production is to be flexible and delivery times are to be kept short. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/18/19990518BIT00230/bit0001.doc