Proha financial statements 1999

PROHA 1999: 10 MONTHS NET TURNOVER FIM 30.8 MILLION, OPERATING PROFIT FIM 3.5 MILLION AND THE RESULT FOR THE FINANCIAL YEAR FIM 1.9 MILLION Net turnover of Proha's shortened financial year grew from the previous 12 month period by 64.4% to FIM 30.8 million (02/1999: FIM 18.8 million). The operating profit declined 13.2% to FIM 3.5 million (FIM 02/1999: FIM 4.0 million). The result of the financial year declined 2.5% to FIM 1.9 million (02/1999: FIM 1.9 million). During the financial year the number of personnel grew by 192% to 70 people (02/1999: 27). The Board of Directors proposes that no divident is paid for this financial year. The companies acquired after December 1, 1999 are not included in the Proha Group's financial statement. The growth based on realized acquisitions for year 2000 exceeds 100%. The growth target of the Proha Group for year 2000 is set to 200%. In 1999, the companies purchased that are not included in the 1999 financial statement, had a total net turnover of FIM 36.7 million, profit FIM 9.9 million and the result after taxes FIM 6.9 million. After the acquisitions the number of employees in Proha Group was 186. NET TURNOVER AND RESULT DEVELOPMENT The Groups net turnover for the 10 month financial year mounted to FIM 30.8 million compared to FIM 18.8 million in the previous 12 month period. The number of personnel grew substantially during the financial year and was 70 ((02/1999:27). The personnel expenses were FIM 10.7 million (FIM 5.4 million). The operating profit was FIM 3.5 million (FIM 4.0 million). Other financing expenses were FIM 1.0 million, from which a major part were the external expences from the listing. The substantial change in the Group's minority interest in the profit and loss account is due to the trade of subsidiaries' minorities to parent company shares before the listing, and the purchase of Datamar Ltd's minority interests to the parent company. Also, a comprehensive development work was conducted in DA Futura International Ltd, which was entered in the books as expense. Proha Plc owns 51% of DA Futura International Ltd. The minority shareholders of DA Futura International Ltd take actively part in the operative activities of the company. Despite of the FIM 0.5 million loss, DA Futura International still has distributable funds. In 1999, the companies purchased that are not included in the 1999 financial statement, had a total net turnover of FIM 36.7 million, profit FIM 9.9 million and the result after taxes FIM 6.9 million. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/22/20000222BIT00800/bit0001.doc The full report http://www.bit.se/bitonline/2000/02/22/20000222BIT00800/bit0002.pdf The full report