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Hakon Invest AB Improved operating profit during the second quarter despite slowdown
January 1 - June 30, 2008 * Group revenues amounted to SEK 584 M (427). This represents an increase of 36.8% compared with the same period in 2007. The increase is mainly due to acquired operations. * Operating profit in the Group, including share of profits of ICA AB, amounted to SEK 221 M (267). * Net financial items amounted to SEK -133 M (173). * Profit for the period amounted to SEK 91 M (771). The comparative figure includes positive income tax of SEK 350 M. Earnings per share amounted to SEK 0.64 (4.82) before and after dilution. * The ICA Group's revenues increased by 11.6%. Operating profit amounted to SEK 919 M (941).
April 1 - June 30, 2008 * Group revenues amounted to SEK 301 M (273). * Operating profit, including share of profits of ICA AB, amounted to SEK 191 M (168). * Net financial items amounted to SEK -71 M (95). * Profit for the period amounted to SEK 118 M (259). Earnings per share amounted to SEK 0.79 (1.64). * The ICA Group's revenues increased by 10.0%. Operating profit amounted to SEK 660 M (595).
President Claes-Göran Sylvén comment's: "Operations in our holdings continued to perform well during the second quarter, despite a slowdown in several parts of the retail sector. The action programs and structural changes under way in the companies have started to have an impact and we can see that we are heading in the right direction in most areas. The challenge - now as before - is to have a clear approach to the market regardless of whether this concerns price, assortment or accessibility at the same time as keeping costs under firm control. Successful retail operations are built up over time and put simply this involves a number of unique details rather than molding operations according to a set formula. In our opinion it is the streamlined and innovative businesses that will be the winners in the future as well."
Press and analyst meeting Hakon Invest will hold a press and analyst meeting today, Wednesday, August 6, 2008, at 10.30 CET in Stockholm. The press and analyst meeting is held in Swedish. A live webcast will be available on the internet at www.hakoninvest.se.
For further information, please contact
President and CEO Claes-Göran Sylvén +46 8 55 33 99 64
CFO Göran Hesseborn +46 8 55 33 99 99
Head of IR Pernilla Linger +46 8 55 33 99 55
Hakon Invest, which is listed on the OMX Nordic Exchange in Stockholm, conducts active and long-term investment operations in retail-oriented companies in the Nordic and Baltic region. Hakon Invest owns 40% of ICA AB, one of the Nordic region's leading food retail companies. Hakon Invest also has holdings in Forma Publishing Group, Kjell & Company, Hemma, Cervera, inkClub and Hemtex. Further information about Hakon Invest is available at www.hakoninvest.se
