STOCKHOLM, Sweden, Feb. 13, 2003 (PRIMEZONE) -- JM (Other OTC:JMAOF) (Stockholm:JM):
-- Profit after financial items amounted to SEK 368m (1,629)
-- The SEK 385m decline in earnings in a number of housing projects in
the Stockholm city region is attributable to a more cautious market
assessment and unforeseen cost increases
-- SEK 256m (39) write-down of development land and properties,
primarily in Stockholm, due to changed planning and market
assessments, of which SEK 241m (0) is charged to profit from project
development
-- Other operations are developing according to plan
-- Property sales of SEK 3,015m (4,074) generated capital gains of
SEK 523m (928), of which SEK 473m (166) is included in profit from
project development
-- Profit from project development amounted to SEK 459m (957) and the
margin amounted to 5.4% (11.8)
-- Return on equity was 7% (30) and earnings per share amounted to
SEK 9 (36)
-- The Board of Directors proposes a dividend of SEK 10 (14) per share
JM AB (publ)
Board of Directors
For additional information, please contact:
Johan Skoglund, President and CEO +46 8 782 89 39
Claes Magnus Akesson, CFO +46 8 782 89 71
The printed annual report for 2002 will be available at JM's head office on March 27.
The Annual General Meeting will be held at 5 p.m. on April 23, 2003 at JM's head office, Telegrafgatan 4, Solna.
Additional information and financial calendar
April 23, 2003 Interim report for the period January - March 2003 July 21, 2003 Interim report for the period January - June 2003 October 22, 2003 Interim report for the period January - September 2003 This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: www.waymaker.net/bitonline/2003/02/13/20030213BIT00180/wkr0001.doc The full year-end report www.waymaker.net/bitonline/2003/02/13/20030213BIT00180/wkr0002.pdf The full year-end report