Københavns Fondsbørs 23.08.2007
Nikolaj Plads 6
1067 København K
STOCK EXCHANGE ANNOUNCEMENT No. 19/07
Interim report 2007
Comments on the results for the first half of 2007
The company's net turnover increased in the first half of 2007 by 8% to DKK
84.0m from DKK 77.5m in the first half of 2006.
Operating profit was DKK 26.2m against DKK 17.4m in 2006. The interim result is
deemed satisfactory by the company.
In the first half of 2007 the company made a profit before tax of DKK 25.4m and
after tax of DKK 18.3m against a profit before tax of DKK 16.4m and after tax
of DKK 18.9m in the same period of 2006.
The turnover of the period was somewhat lower than originally expected, mainly
due to problems with the introduction of necessary new production equipment and
new processes in connection with the deliveries under the new raw materials
agreement. Despite these difficulties it was possible to maintain earnings at a
satisfactory level.
The most important currency of the company is USD, and the company has
recognised an unrealised exchange rate loss of DKK 1.7m in the period.
Expected future development
he company had an inflow of customers and orders in the second quarter
corresponding to the raw materials purchased and the production capacity in
2007 (cf. stock exchange announcement No. 14/07).
The lean-activities launched in the first quarter will now be focused in order
to achieve the highest possible production output.
Cf. stock exchange announcement No. 14/07 the company maintains its
expectations for a turnover in 2007 of DKK 180-200m and a profit before tax of
DKK 40-50m.
The complete report is attached or can be downloaded from
http://www.topsil.com/0/492
