The underlying sales growth of 14.4% in the second
quarter was satisfactory.
Summary
The underlying sales growth of 14.4% in the second
quarter was satisfactory. The company thereby meets
the expectation of organic growth well above market
growth.
The introduction of the desk lamp Ninety, based on
light emitting diodes, has been a success, and the
product has taken the position of the company`s
bestseller.
The company has accepted a binding proposal
regarding a long-term loan agreement (5 years) with
a new lending institution. The agreement has
improved terms compared to previous agreements.
Highlights as compared to second quarter 2007
All amounts in NOK
- Revenues up 8.2% to 117.1 mill.
Underlying currency-neutral growth was 14.4%.
- Gross margin down 0.6 percentage points to 40.7%
- EBITDA up 372.3% to 2.5 mill.
- EBIT up 141.5% to 0.9 mill.
- Earnings per share up 83.1% to -0.06
First 6 months 2008
All amounts in NOK
- Revenues p 4.2% to 242.1 mill.
Underlying currency-neutral growth was 11.2%
- Gross margin down 0.4 percentage points to 42.7%
- EBITDA up 131.3% to 14.2 mill.
- EBIT up 203.9% to 11.1 mill.
- Earnings per share up 0.61 to 0.63
The report can be downloaded here
Q2-08 Report ENG.pdf and is also available at www.newsweb.no (LUX).