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2010-01-12 08:23:00 CET 2010-01-12 08:23:01 CET REGULATED INFORMATION Trainer's House Oyj - Company AnnouncementPRELIMINARY INFORMATION ON TRAINERS' HOUSE'S FOURTH QUARTER NET SALES AND OPERATING PROFIT; THE COMPANY TO WRITE-DOWN EUR 3.7 MILLION FROM THE DEFERRED TAX ASSETTRAINERS' HOUSE PLC STOCK EXCHANGE RELEASE 12 JANUARY 2010 AT 9:23 Trainers' House published on Jan 12 2010 that the company considers an issuance of a hybrid capital bond. Therefore the company releases preliminary information on net sales and operating profit of the last quarter in 2009. According to the current estimate, net sales of the fourth quarter will reach EUR 6.9 million (Q4 2008 11.7 million), operating profit before non-recurring items and depreciation resulting from the allocation of the purchase price of Trainers' House Oy will be EUR 0.9 million (EUR 2.4 million), and operating profit after these items, EUR 0.4 million (EUR 1.8 million). The Group's balance sheet contains deferred tax assets from losses carried forward in the amount of EUR 7.1 million. The Board of Directors has, in their meeting on Jan 11 2010, reviewed the value of the deferred tax asset and decided to make a one-time EUR 3.7 million write-down from it. The write-down is based on the updated forecast of the taxed income during the years 2010-2012. The write-down has no impact on the operating profit and cash flow. The updated goodwill impairment tests indicated no other need for write-downs. The preliminary financial figures published above are unaudited. Trainers' House PLC will publish the company's Financial Statements on 11 February 2010 at 8:30. TRAINERS' HOUSE PLC For more information, please contact: Aarne Aktan, Chairman of the Board. Tel. +358 40 7740204 DISTRIBUTION OMX Nordic Exchange, Helsinki Prominent media sources |
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