Compensation for damages will, as a precaution, not be accounted for in the 2010 financial statements

Compensation for damages will, as a precaution, not be accounted for in
the 2010 financial statements

 

ProfilGruppen has been awarded 8.0 million in damages plus interest by
an arbitral tribunal in Stockholm in December 2010. It was made public
on December 29 that this would affect profit of the company for the 4th
quarter. The defendant has since filed a motion to strike out the award.
In view of the time involved before the court will decide on the merits
of the motion, the company has decided not to include the awarded amount
in the profit for the 4th quarter, but to defer until the court has
ruled on the matter.

 

 

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Contact for information: 

Peter Schön, CFO, mobile +46 (0)70 339 89 99
e-mail: peter.schon@profilgruppen.se (peter.schon@profilgruppen.se) 
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