STOCKHOLM, Sweden, April 25, 2002 (PRIMEZONE) -- The IT and management consultancy, HiQ, had net sales for the period January - March of SEK 102.6 (146.5) million. The company's profit before goodwill was SEK 5.7 (28.3) million, and the margin before goodwill was 5.6 per cent.
"HiQ continues to show a profit despite a very tough market. We believe that this is the result of our strong brand, long-term customer relations and experienced employees," says Lars Stugemo, CEO of HiQ.
In April HiQ acquires Softplan, which has 50 employees working with advanced system development at offices in Espoo, Helsinki. Softplan is a well-run and profitable company with full-year net sales in 2001 of SEK 43.5 million. Softplan has experienced an average organic growth of more than 30 per cent over the past five years with very good margins.
"After the acquisition of Softplan we are very optimistic about the future development in the Finnish market. Softplan is expected to strengthen HiQ's margins and contribute to the earnings per share in 2002," says Stugemo.
"In line with HiQ's strategy of being a strong Nordic player, we are continuing to develop HiQ as a Nordic company and to strengthen our position in the countries where we are already active. The fact that our customers are focusing on the Nordic market supports our belief that it is important to be a strong Nordic consultancy as we move forward," says Stugemo.
HiQ's focus on the Oresund region is continuing through the forming of a subsidiary in Lund, and HiQ intends to invest further in southern Sweden in 2002.
"We view the Oresund region as a very interesting growth area. We believe that we have great potential to grow with our major customers in the region," says Stugemo.
HiQ has continued to broaden its client base within new areas and has increased net sales within, for example, Finance & Insurance, Defence and Entertainment & Games.
HiQ's President and CEO Lars Stugemo will present the report at Cafe Opera in Stockholm at 10 a.m. today, Thursday, 25 April. The report can be ordered by calling +46 (0) 8 588 900 00.
For further information, please contact Lars Stugemo, President and CEO HiQ, tel.: +46 (0) 8 588 90 000 Anna Svensson, CIO HiQ, tel.: +46 (0) 8 588 90 015, +46 (0) 704 200 103
HiQ is an IT and management consultancy that focuses on high-tech solutions in the fields of communication and simulation technology. The company is a leader in these fields and the Nordic region is its domestic market. HiQ employs around 480 people at offices in Sweden, Finland, Denmark and Norway. HiQ is listed on Stockholmsborsen. For more information, please visit www.hiq.se.
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