STOCKHOLM, Sweden, Oct. 21, 2005 (PRIMEZONE) -- Pergo:
(Figures in brackets (xx) correspond to the figures for the same period last year)
- Net sales for the period were SEK 2,199 million (2,098). Net sales for the third quarter were SEK 769 million (681).
- The operating profit for the period was SEK 42 million (-207). After considering items affecting comparability last years profit was SEK 46 million. The operating profit for the third quarter was SEK 22 million (15).
- The profit after tax for the period was SEK 33 million (-208).
- The earnings per share (EPS) for the period was SEK 0.60 (-3.90).
- Cash flow from ongoing operations over the period was SEK -53 million (-83). Cash flow for the third quarter was SEK 33 million (-94).
- The outlook reflects continued improvement in sales growth and profitability.
CEO Tony Sturrus comments, "Today Pergo reports accelerating growth in sales for North America. In Q3, sales in local currency grew 15% and are up 10% on a year-over-year comparison basis. The growth in the quarter was achieved despite disruption in our logistical chain caused by the major hurricanes in September. Sales in our home centre channel were particularly strong during the period. Our sales levels in Europe also increased in the third quarter.
Our people have significantly improved our year-over-year profit performance in Q3. We are also on track with our European improvement program to save annualized cost of SEK 100 million. We will begin to realize some of the benefits of our lower cost model in Q4 with the full SEK 100 million improvement to be realized in 2006.
We are increasing our customer relationship activities both in Europe and in North America. We have introduced a more customer-focused and efficient selling structure throughout Europe.
Our main objectives for the Pergo group remain growth and improved profitability."
Pergo will hold a phone conference for media and financial analysts on October 21, 2005 at 11:00 a.m. A presentation is available at www.pergo.com
Phone: +46 (0)8 5853 6965 (Sweden), +44 (0)20 7784 1005 (U.K.), +1 718 3541 153 (U.S.)
Pergo is a leading flooring company with leading market positions, particularly in Europe and the USA. Pergo's net sales amount to approximately SEK 2.8 billion and the number of employees is around 700. Pergo developed laminate flooring at the end of the 1970s and launched the product in Europe during the 1980s. The company initiated sales in the U.S. in 1994 and on a smaller scale later in Asia in 1995 and Latin America in 1997. The company's products have been marketed under the PERGO(r) brand since 1989. The company is listed on the Stockholm Stock Exchange's O-list. For further information about Pergo, please visit www.pergo.com.
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