COPENHAGEN, Denmark, May 8, 2003 (PRIMEZONE) -- Copenhagen Airports A/S:
Consolidated profit before tax and unrealised exchange gains (DKK 13.8 million) amounted to DKK 65.5 million, which was at the upper end of the forecast.
The parent company's operating profit was DKK 32.0 million higher than in Q1 2002, mainly as a result of increased concession revenue.
Results from the hotel operation were slightly higher than in Q1 2002.
A restructuring programme has reduced Newcastle International Airport's annual costs by about one-third. Non-recurring costs related to the programme were the main reason why the contribution from this investment was DKK 17.3 million lower in Q1 2003 than in Q1 2002.
As expected, the company's other international activities contributed to profit.
The forecast of results for 2003 is retained.
Read the stock announcement in the file attached this email. http://reports.huginonline.com/902750/117508.pdf