Second quarter
* Operating profit improved by SEK 10 M to SEK 92 M.
* Net profit increased to SEK 63 M (56) and earnings per share to SEK 2.75 (2.25).
First six months
* Net turnover amounted to SEK 5,894 M (5,995).
* Net profit amounted to SEK 71 M (101) and earnings per share to SEK 3.10 (4.00).
In a comment on the quarterly results, Bilia’s Managing Director Jan Pettersson says:
“Increased earnings in the Service Business during the quarter compensated for poorer earnings in the Car Business. The margin in new car sales was normalised in the Norwegian operation, and the Danish operation showed a profit.
Several important decisions were taken to bring the company closer to its goal of being a customer-focused Scandinavian chain of car dealerships: Denmark’s largest Ford dealer was acquired, a letter of intent was signed to acquire Sweden’s largest Hyundai dealer, Micro was sold and the Board of Directors decided to evaluate the future ownership of the company’s properties.”
(For complete report see attached file)
