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2010-01-27 16:58:02 CET 2010-01-27 16:58:50 CET REGULATED INFORMATION Føroya Banki P/F - Company AnnouncementAdjustment of estimated profit guidance for 2009Company announcement no. 3/2010 On the basis of a most recently concluded study of the draft of the Group's annual report for the year 2009, Føroya Banki hereby adjusts the earlier announced forecast to the Group's pre-tax profit before value adjustments and before expenses due to the Danish state-funded guarantee scheme for the year 2009 to be within the range of DKK 150-160m. In the Annual Report 2008, published 18. February 2009, the Group estimated profit guidance for 2009 within the range of DKK 165-195m before value adjustments, expenses to the Danish state guarantee scheme and tax. This outlook was maintained in the Q1, H1 and Q3 2009 reports respectively. The adjustment is partly caused by the fact that DKK 10m in Q4 2009 have been deducted from the sale price of the shares in the aquaculture company Vestlax, which were divested at the end of 2008. This subsequent adjustment is completed in accordance with the purchase agreement which contains a right for the buyer to readjust the purchase price according to the final measurement of the company's total debtor balances. Furthermore the adjustment is caused by an increase in the Group's impairments in Q4 2009 relating to the expected impairments at the time of publication of the Group's Interim Report Q3 2009. Further information: Janus Petersen, CEO. Tel.: +298 330 340 |
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