Proha raises its result forecast due to gain on disposal of

Proha Plc        Stock Exchange Bulletin         September 15, 2010 at 12:30 pm


PROHA RAISES ITS RESULT FORECAST DUE TO GAIN ON DISPOSAL OF INVESTMENT (profit
warning) 

In accordance with the agreement signed today Proha has sold all of its shares
in ProCountor International Oy to Pretax Oy. Proha estimates that it will
recognize approximately EUR 0.9 million non-taxable gain from the transaction
in the third quarter. 

Of the selling price, 80% is paid in cash at the signing of the contract. The
second installment of 20% will be paid by January 31, 2011. 

Because of the transaction, Proha changes its earlier result forecast of the
operating result and the result for 2010. The transaction does not have any
effect on the net sales. 

The new result forecast:
It is expected that the net sales in 2010 will grow from 2009. The operating
result for 2010 will be between 4.5-6.5% of the net sales. The result for the
full year will be between 3.0-5.0% of the net sales. The annual seasonality
cycles resulting from the amount of billable days will affect Proha's financial
performance in Q3. Therefore, without the proceeds from the sale of the shares
the result for Q3 is expected to be lower than in Q4. 

The prior result forecast:
It is expected that the net sales in 2010 will be more than in 2009. The
operating result for 2010 will be between 3-5% of the net sales. The result for
the full year will be between 1.5-3.5% of the net sales. The annual seasonality
cycles resulting from the amount of billable days will affect Proha's financial
performance in Q3. Therefore, the result for Q3 is expected to be lower than in
Q4. 

There is no other change in Proha's previous result forecast than the effect of
the gain on disposal of the shares. 

The transaction does not have any impact on Proha's business operations.

Pretax Oy and ProCountor International Oy will publish their own press releases
regarding the acquisition. 


Proha Plc
Ilkka Toivola
CEO


More information:
 
PROHA PLC
Ilkka Toivola, CEO
Tel. +358 20 436 2000
ilkka.toivola@proha.com


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Proha raises its result forecast due to gain on disposal of investment (profit warning)
