STOCKHOLM, Sweden, April 29, 2003 (PRIMEZONE) -- Graninge (Other OTC:GRGEF)
Income rose by 28 per cent, mainly as a result of the winter's high electricity prices.
Profit was up by 4 per cent to MSEK 271.
Profit improved by 15 per cent, excluding the non-recurring items of MSEK 25 that were included in the year-earlier figure.
Production in the Group's hydropower plants was significantly lower than normal after the dry summer and autumn of 2002.
The winter's high electricity prices compensated for the decrease in hydropower production.
District heating operations in Nordmaling were sold to Sydkraft Varme AB.
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