Preliminary report on AB Sardus operations in 2002
- Continued strong growth - Profit in excess of SEK 100 M Fiscal 2002 was a record year for Sardus, notably with respect to sandwich foods and light meals. Profit before tax increased by 21 percent, to SEK 102 M, and sales rose by 22 percent, to SEK 1,679 M. "We succeeded in passing the SEK 100 M milestone in profit, thanks to continuing sales increases, strengthened market shares and a better product mix," President Ragnar Bringert explains.
Fiscal 2002 was a very good year for Sardus, with the largest increases in sales and earnings since the company was listed publicly in 1997. The company's market-leading position in most product areas improved, thanks to a range and mix of products that was well in line with demand. The most recent acquisitions -- Danish 3-Stjernet A/S and Falbygdens Ost, developed very well. Profit before amortization of goodwill increased by 23 percent, to SEK 167 M. Profit per share amounted to SEK 6.81, an increase of 16 percent. Cash flow improved and the Board of Directors is proposing a dividend of SEK 4.25 per share, up from SEK 4.25 paid last year. Broadening of operations During the year conducted an overview of its business concept and strategies that involves a broader focus on processed ingredients for light meals in the Nordic market. "Based on our position of strength in 'topping' products in Sweden and Denmark , our organic and acquisition-based growth is continuing, with the objective of achieving SEK 2.6 billion in sales while maintaining high profitability and paying a high dividend in 2004," Ragnar Bringert says. An estimate of the outlook for 2003 will be released on February 14, 2003 . Helsingborg , January 31, 2003 AB SARDUS (publ) Ragnar Bringert President For additional information, please call President Ragnar Bringert. Telephone: 070-593 62 73 or 042-37 02 50.