Frango AB (publ) Interim Report January - June 2003

| Source: Frango Frango

STOCKHOLM, July 11, 2003 (PRIMEZONE) -- Frango Interim report January - June 2003 


 Second quarter
 .    Earnings net of financial items for the second quarter amounted to
      SEK 0.5 million (-1.4m), an improvement of SEK 1.9 million.
 .    Revenues for the second quarter totalled SEK 64.5 million (68.2m).
 .    Cost-saving measures have helped reduce total operating expenses by
      SEK 6.4 million, a reduction of 9 per cent compared to last year.
      Six months
 .    Earnings net of financial items were up SEK 12.0 million compared
      with last year.
 .    Earnings net of financial items totalled SEK -6.8 million (-18.9m).
 .    The improvement in earnings is attributable to cost savings
      programmes completed by Frango that will enable the company to
      return to profitability for the full year.
 .    Operating expenses were reduced by 12 per cent, or SEK 16.5
      million.
 .    Revenues for the period amounted to SEK 121.0 million (125.5m). The
      decline is related solely to the strength of the Swedish krona and
      its impact on translation rates.


 Release of next financial report

 The interim report for the third quarter of 2003 
 will be published on 14 October 2003.

 Stockholm, 11 July 2003

 Tom Lofstedt 
 Managing Director 
 Frango AB (publ) 
 Corporate identity no. 556153-4347

 For further information, please contact: 
 Tom Lofstedt, Managing Director, 
 or 
 Karl Ove Gronqvist, CFO, tel. +46 (0)8 555 775 00.

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The full report is available for download:

http://www.waymaker.net/bitonline/2003/07/11/20030711BIT00070/wkr0001.doc

http://www.waymaker.net/bitonline/2003/07/11/20030711BIT00070/wkr0002.pdf

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