HELSINKI, Finland, Nov. 14, 2002 (PRIMEZONE) -- Proha Plc: the changes made in the Helsinki Stock Exchange's rules of other public trading on 1-09-2002 require that, on certain conditions, a publicly held company is to include in its interim report a well-founded opinion on the adequacy of assets available to the company. This kind of statement was missing from Proha's interim report for the period January-September 2002.
Proha Plc's cash items and short-term investments totaled EUR 5.4 million on September 30, 2002. The divestments published after the nine-month period strengthen the company's cash balance further with approximately EUR 4 million.
The Proha management's estimate for the operative result of the business operations in 2002 remains unchanged. The result for the financial year (EBITDA) is expected to be positive. In the interim report for the period January-September 2002, the company estimated the organic growth of the net sales in 2003 to be approximately 10%, and the profitability approximately 7% (EBITA). Based on this, the cash items and short-term investments are estimated to increase during 2003.
More information: PROHA PLC CEO Pekka Pere, tel. 358 (0)20 4362 000 pekka.pere@proha.com http://www.proha.com
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