Pöyry PLC - interim report 1 january - 30 june 2008
25/07/2008 - 14:41
The Pöyry Group's net sales for the period under review increased by
21.8 per cent and were EUR 414.2 million (340.0 million in the same
period 2007). Profit before taxes increased by 59.5 per cent to EUR
53.1 (33.3) million.
The Group's consolidated balance sheet is healthy. The equity ratio
was 44.9 (46.2) per cent and the net debt/equity ratio (gearing)
-31.2 (-29.7) per cent.
Earnings per share improved by 60.5 per cent to EUR 0.61 (0.38) and
the return on investment 52.3 (38.2) per cent.
The order stock was EUR 555.7 million (562.8 at the end of 2007). The
number of personnel increased by 9.3 per cent and was 7943 at the end
of the review period (7269 at the end of 2007).
Consolidated net sales will increase during 2008. Profit before taxes
will improve clearly in 2008.
At the beginning of 2008 the Group announced that the profit before
taxes for 2008 was expected to improve compared to 2007. In June the
Group specified its 2008 earnings estimate, stating that the profit
before taxes is estimated to improve clearly in 2008. The improvement
of the profit expectation was caused by the Forest Industry business
group's favourable earnings development during January-May, and by
orders received during the spring which create a good work load also
for the rest of the year in the Forest Industry business group.
The interim report has been prepared in accordance with the IAS 34
following the same accounting principles as in the annual financial
statements for 2007. In the Financial Statements for 2008 the Group
will also adopt the new pronouncement "IFRIC 14 IAS 19 - The Limit on
a Defined Benefit Asset, Minimum Funding Requirements and their
Interaction". The pronouncement has no significant effect for the
Group.
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