Source: Dalhoff Larsen & Horneman A/S

2009 Annual Report - Back to core business

Changed business model and positive earnings generated in a streamlined, united
and market-oriented DLH 

As a result of the global economic slowdown in 2009, DLH reports a 27% revenue
decline and an after-tax loss of DKK 752 million. The loss incurred is
primarily attributable to impairment losses and restructuring costs as a result
of difficult market conditions and the implementation of a new business
strategy. Under its new ‘Back to Black' strategy, the group will re-establish
itself as a focused and profitable international timber wholesaler over the
next three years. 
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