TK Development A/S announced consolidated and parent earnings results for the year ended January 31, 2017. For the year, on consolidated the company reported net revenue of DKK 401.5 million, operating profit of DKK 51.8 million, profit before tax of DKK 13.8 million, profit for the year of DKK 7.1 million, earnings per share of DKK 0.1, cash flows used in operating activities of DKK 32.5 million, purchase of securities and investments of DKK 5.9 million, Investments in equipment, fixtures and fittings of DKK 0.8 million compared to the net revenue of DKK 327.8 million, operating loss of DKK 152.6 million, loss before tax of DKK 191 million, loss for the year of DKK 222.3 million, loss per share of DKK 2.3, cash flows used in operating activities of DKK 78.9 million, investments in equipment, fixtures and fittings of DKK 0.2 million for the previous year. Return on equity (ROE) was 0.6% compared to negative ROE of 15.9% a year ago.

For the year, the parent company reported operating loss of DKK 5.2 million, profit before tax of DKK 12.4 million, profit for the year of DKK 6.9 million compared to the operating loss of DKK 4.3 million, loss before tax of DKK 219.1 million, loss for the year of DKK 222.2 million for the previous year. Cash flows from operating activities was DKK 1.1 million compared to cash flows used in operating activities DKK 16.2 million a year ago.

For the fiscal 2018, the company expects DKK 100 million to DKK 120 million before tax, which includes the expectation that the Group's property development activities will contribute with a return on equity of about 15%.