COPENHAGEN, Denmark, May 7, 2003 (PRIMEZONE) -- GN Store Nord (Other OTC:GGNDF): Revenue was DKK 1,141m against DKK 1,456m in Q4 02 and DKK 1,368m in Q1 02. Revenue from new GN was DKK 1,239m in Q4 02 and DKK 1,151m in Q1 02.
Organic growth from Q1 02 to Q1 03 was 10%. EBITA improved to DKK 112m from DKK 19m in Q4 02 and DKK (50)m in Q1 02. In new GN, EBITA was DKK 132m in Q4 02 and DKK 77m in Q1 02. The year-on-year improvements are due to rationalization measures implemented in the organization, which have helped lift the gross margin from 53% in Q1 02 to 56% in Q1 03.
The full text release with fiancial tables is available: http://reports.huginonline.com/902422/117325.pdf