Saga Furs Oyj announced consolidated earnings results for the third quarter and nine months ended July 31, 2014. For the quarter, the company reported total sales of EUR 156.9 million compared with EUR 273.2 million for the same period a year ago. Net turnover was EUR 15.6 million compared with EUR 21.4 million for the same period a year ago. Operating profit was EUR 6.0 million compared with EUR 8.8 million for the same period a year ago. Profit before tax was EUR 6.6 million compared with EUR 9.5 million for the same period a year ago. Return on equity was 6.0% compared with 7.8% for the same period a year ago. Earnings per share was EUR 1.47 compared with EUR 1.99 for the same period a year ago. Net profit for the period was EUR 5.275 million compared with EUR 7.177 million for the same period a year ago.

For the nine months, the company reported total sales of EUR 429.2 million compared with EUR 784.7 million for the same period a year ago. Net turnover was EUR 41.9 million compared with EUR 63.0 million for the same period a year ago. Operating profit was EUR 1.1 million compared with EUR 23.1 million for the same period a year ago. Profit before tax was EUR 3.6 million compared with EUR 26.2 million for the same period a year ago. Return on equity was 3.0% compared with 22.4% for the same period a year ago. Earnings per share was EUR 0.77 compared with EUR 5.50 for the same period a year ago. Net profit for the period was EUR 2.774 million compared with EUR 19.802 million for the same period a year ago. Net cash used in operating activities was EUR 14.653 million compared with net cash provided by operating activities of EUR 10.943 million for the same period a year ago. Investments in tangible and intangible assets was EUR 6.868 million compared with EUR 2.103 million for the same period a year ago.