OSLO (Thomson Financial) - Ementor ASA posted first-quarter profits ahead of
expectations at both the pretax and operating levels, after demand for IT
services in the Nordic and Baltic regions led to a rise in margins.
For the first quarter, Ementor posted pretax profits of 55.0 million
Norwegian crowns, up from 44.1 million last year, and ahead of the 50.0 million
consensus forecast of analysts polled by TDN Finans.
At the operating level, profits came in at 69.5 million crowns, up from 56.0
million the previous year and ahead of the 62 million consensus forecast.
EBITDA was 100.2 million crowns, up from last year's 78.2 million, while the
EBITDA margin rose to 3.1 percent from 2.8 percent for the same period a year
ago.
"We continue to deliver solid financial results with the first quarter of
2008 showing impressive operating profit and margin improvements with an
exceptional growth in services revenue for the group," said chief executive
Claus Hougesen.
alastair.reed@thomsonreuters.com
ar/slj
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