SKAKO A/S Reports Unaudited Consolidated Earnings Results for the Second Quarter and First Half Ended June 30, 2017; Revises Earnings Guidance for the Year 2017
For the first half, on consolidated basis, the company reported revenue of DKK 176,053,000 against DKK 153,853,000 a year ago. EBIT was DKK 7,720,000 against DKK 5,062,000 a year ago. Profit before tax was DKK 6,396,000 against DKK 3,611,000 a year ago. Profit for the period attributable to shareholders was DKK 6,610,000 or DKK 2.14 per diluted share against DKK 5,350,000 or DKK 1.73 per diluted share a year ago. Cash flow used in operating activities was DKK 1,047,000 against DKK 5,897,000 a year ago. Investment in intangible assets was DKK 1,250,000 against DKK 1,444,000 a year ago. Investment in tangible assets was DKK 1,195,000 against DKK 280,000 a year ago. Return on equity was 17.9% against 20.8% a year ago. The increase in revenue was primarily driven by a 28% growth in the Concrete division.
For the year 2017, the company expects operating profit of DKK 17.5-22.5 million against DKK 15-20 million as previously forecasted.