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Today the Board of Per Aarsleff A/S has discussed and approved the Quarterly Report of the Company covering the first quarter of the financial year 2004/2005.
The quarterly result of the company came to DKK 38.7 million against DKK 19.3 million for the same period of last year.
The result is above expectations, and the developments of the first quarter support the previously announced outlook for a profit for the year at DKK 80 million before tax.
Group revenue came to DKK 967 million compared to DKK 754 million in the previous financial year. Foreign activities, including shares from associates, amount to DKK 388 million against DKK 314 million last year.
The tendency in the first quarter is for a growing level of activity in the Danish construction market, which by the way is stable.
As regards foreign activities, including shares from associates, the developments of the first quarter support the outlook for a growing level of activity as expressed by the management.
Compared to the same quarter of last year, the improved result was achieved by a 28% increase in revenue, without administrative expenses growing materially.
Construction contributes a profit before interest at DKK 11 million against DKK 4 million last year. Revenue was DKK 595 million against DKK 446 million last year. A higher level of activity than forecasted at the beginning of the financial year influences the quarterly result.
Pipe Technologies contribute a profit before interest at DKK 21 million against DKK 12 million for the same period of the previous financial year. The level of activity has been stable in the European markets, and the Polish subsidiary experienced an extraordinarily positive first quarter.
Piling contributes a profit before interest at DKK 9 million against DKK 7 million in the same quarter of last year. This is slightly above expectations.
Cash flows from operations with deduction of investments amount to DKK 27 million.
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