Suomen Hoivatilat Oyj Announces Earnings Results for the Half Year Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
August 22, 2017 at 01:00 am EDT
Suomen Hoivatilat Oyj reported earnings results for the half year ended June 30, 2017. For the period, the company reported revenue was 5,315,223 against 3,364,443 a year ago. Operating profit was 19,143,610 against 8,764,888 a year ago. Profit before tax was 18,529,354 against 8,294,724 a year ago. Profit for the financial year was 14,769,538 against 6,623,311 a year ago. Net cash flow from operations was 1,107,894 against 416,572 a year ago. Acquisition of subsidiaries less their cash and cash equivalent on the date of acquisition was 2,421,607. Investments in property, plant, and equipment were 33,697,710 against 16,551,699 a year ago. Investments in intangible assets were 2,450 against 7,461 a year ago.
For the year 2017, the company expects its total revenue to reach at least 12 million in 2017. The operational result is expected to be at least 4.5 million. The market value of the investment properties is expected to be between 225 million and 245 million at the end of 2017.