Pergo continuos to show positive result
Pergo continuos to show positive result Today Pergo AB announced it's Interim Report ended September 30, 2002. Following bullet points have been highlighted in the report. · Operating profit for the first three quarters amounted to MSEK 28 (-188) and profit before tax amounted to MSEK 23 (-220). · Net sales amounted to MSEK 2,464 (2,760). Excluding currency effects, sales for the period decreased by 9%. · Cash flow from current operations during the nine-month period was positive and amounted to MSEK 299 (-140). During the same time net debt decreased to MSEK 21 (608). · The action program is proceeding better than planned. Savings to date this year amount to more than MSEK 300. The target for the action program has been raised from at least MSEK 500 to at least MSEK 600. · The estimated operating result for full year 2002 has been changed from MSEK 50 to at least MSEK 50 and the cash flow from the operations will be positive in 2002. · After the end of third quarter the world's largest laminate flooring group - Kaindl, Kronospan and Kronotex - signed a license agreement with Pergo that gives them the right to manufacture click joints supported by Pergo's technology. " It is positive that Pergo continuos to make profit and will reach communicated target. The action program, which is the key to this success, has developed better than expected. We are on the right track of bringing Pergo to profit but we still have much to do before we reach the financial goals, says Mr Raimo Issal, President of the Pergo Group. Trelleborg October 28, 2002 Pergo AB Corporate Communications For further information, please contact: Mr Raimo Issal, CEO Ms Annette Kumlien, CFO Phone number +46 410 36 31 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/28/20021028BIT00730/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/28/20021028BIT00730/wkr0002.pdf