Report January - October 1999 HL Display AB
Report January - October 1999 HL Display AB (publ) * Sales for January to October increased by 17.1% to SEK 636.6 m (543.7) compared to corresponding period 1998. During October sales was SEK 72.5 m (63.8), an increase by 13.6% * The periods profit before tax amounted to SEK 41.0 m (74.4). The profit for the month was SEK 4.2 m (8.3) [Removed Grapgics] January to October 1999 in brief The consolidated sales for the period increased by 17.1 per cent to SEK 636.6 m (543.7). Net sales during October amounted to SEK 72.5 m (63.8), an increase by 13.6%. Operating profit for the period amounted to SEK 48.3 m (73.9). Profit before tax was SEK 41.0 m (74.4). This includes a translation loss on consolidation of SEK -3.8 m (+2.4). This is explained by the strengthening of the Swedish Krona to other Group currencies, primarily to the Euro, since the beginning of this year. The profit before tax of October was SEK 4.2 m (8.3). Net investments in fixed assets amounted to SEK 35.2 m (53.0) during the period. In addition SEK 8.5 m (2.4) is related to acquisitions. The insurance company SPP has notified that surplus client company funds will be allocated to companies which have collectively agreed pension plans with SPP. Totally SEK 4.5 m has been allocated to the HL Display Group. The amount is not certain either to size or timing, and has thus not been included in the accounting. HL Display starts sales company in Turkey Since 1993, HL Display has been represented on the Turkish market by a distributor. Due to a very fast development of the Turkish retail trade structure and the entry of several international retailers, HL Display has decided to establish a new sales company. To establish new sales companies are an important part of the HL growth strategy. During the last two years, five new sales companies has been started, 1998 in Switzerland, Hungary and Latvia, 1999 in Russia and Turkey. [Removed Graphics] Reporting dates: Monthly 11 1999- Year end 12 2000- Monthly 1 month 2000- Monthly 2 months 2000- Shareholder 2000- Interim 3 months 2000- Monthly 4 months 2000- Monthly 5 months 2000- Interim 6 months 2000- Stockholm 18.11.1999 [Removed Graphics] 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/1999/11/18/19991118BIT00310/bit0001.doc http://www.bit.se/bitonline/1999/11/18/19991118BIT00310/bit0002.pdf