Although it had been expected that SP Group would record a profit decline
relative to the year-earlier period, the decline proved to be more pronounced
than anticipated. SP Group generated loss before tax and minorities of DKK 2.0m
in the first half-year of 2008. Given the weaker economic growth combined with
increased energy, raw materials, payroll and capital procurement costs,
achieving the previous full-year profit guidance no longer seems realistic. SP
Group still projects a profit for the year. Revenue is expected to be in line
with or slightly higher than last year.
