STOCKHOLM, Sweden, Feb. 27, 2004 (PRIMEZONE) -- Axel Johnson AB:
-- Continued improvement in earnings -- for the third consecutive year,
earnings after net financial items showed positive growth, rising
12 percent to SEK 742 M. Wholly owned Ahlens and jointly owned
Axfood posted record earnings.
-- Strong financial position -- The equity/assets ratio rose by 5
percentage points to 66 percent and the debt/equity ratio remained
unchanged at 0.
-- Weak markets -- The Group's markets showed weak growth during the
year. Despite the unfavorable conditions, consolidated sales rose
by 3 percent to SEK 8,874 M.
-- Development and efficiency enhancement -- All operations were
characterized by a focus on cost savings and efficiency
enhancement. At the same time, Ahlens established a number of
new units and Axfood opened new Willys stores and modernized a
large number of Hemkop stores. Servera acquired 91 percent of
Fallmans Kott, and NovAx acquired 47 percent of Designtorget.
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The full year-end report is available for download:
http://www.waymaker.net/bitonline/2004/02/27/20040227BIT00050/wkr0001.doc
http://www.waymaker.net/bitonline/2004/02/27/20040227BIT00050/wkr0002.pdf