The development of activities in the fourth quarter of the financial year leads to an upwards adjustment of the expectations to the annual results for 2007/2008 from DKK 250 million to DKK 290 million before tax. Especially, the subsidiaries in Poland and Germany and an extraordinarily good progress of several projects in Denmark have contributed to the positive development. In addition, the month of September accounted for an operating income of DKK 7 million from the sale of land.
In general, the exceptionally high profit for 2007/2008 is caused by a mild winter and extremely good results from one-off contracts. Furthermore, some of the risks that were included in the contract prices have not occurred to the usual extent.
The outlook for the coming financial year that began on 1 October 2008 is for a profit before tax at approx. DKK 200 million. As usual, our expectations to the profit for the next financial year will be specified and published in connection with the publication of the preliminary announcement of financial statements for 2007/2008 on 19 December 2008.