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2010-03-10 08:30:58 CET 2010-03-10 08:33:07 CET REGULATED INFORMATION M-real - Company AnnouncementM-real books a positive EUR 12 million IT related non-recurring item in 1Q 2010 resultsM-real books a positive EUR 12 million IT related non-recurring item in 1Q 2010 results M-real Corporation Stock Exchange Release 10 March 2010 at 9.30 M-real Corporation, a part of Metsäliitto Group, reverses earlier made IT cost provisions and books a positive non-recurring item of EUR 12 million in its 1Q 2010 operating result. In segment reporting EUR 9 million is included in Other operations and EUR 3 million in discontinued operations. The reversal of the provisions relates to the new IT service contract with Tieto Corporation published on 3 December 2009 as well as to the renewed IT-contract with IBM signed today. As earlier announced, the annual cost savings resulting from changes in IT services are expected to amount to approximately EUR 30 million. M-REAL CORPORATION Further information: Matti Mörsky, CFO, tel. +358 10 465 4913 [HUG#1392340] |
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