On the basis of the preliminary calculations, the Incap Group's second-quarter operating profit is estimated to amount to about EUR 1.0 million. In the corresponding period in 2004, the operating profit was EUR 0.3 million and in the first quarter of this year, the operating profit amounted EUR 0.6 million.
Operating profit includes extraordinary income of about EUR 0.2 million on the sale of fixed assets at the Helsinki and Vaasa plants in connection with the modernisation of the machinery. Another factor underlying the earnings improvement is the favourable product range manufactured during the period.
The divestment of aluminium machining and plating operations in mid-April improves the Group's net result. In the second quarter, a total of about EUR 0.7 million in extraordinary capital gains will be recognised, and the net result for the period will amount to about EUR 0.9 million.
The trend in net turnover has measured up to expectations in the second quarter and amounts to approximately EUR 20.4 million. In the corresponding period last year, the net turnover was EUR 18.0 million and in the first quarter 2005 EUR 20.9 million.
The above figures are unaudited. The Incap Group's Interim Report for the January-June 2005 period will be published on Thursday, 4 August 2005.
INCAP CORPORATION
Juhani Hanninen
President and CEO