Dovre Group Plc Reports Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Provides Earnings Outlook for the Year 2012
February 15, 2012 at 05:01 pm
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Dovre Group Plc reported audited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported net sales were EUR 18,829,000 against EUR 18,551,000 a year ago. Operating result was EUR 921,000 against EUR 215,000 a year ago. Profit before tax was EUR 1,018,000 against EUR 190,000 a year ago. Profit for the period was EUR 742,000 against EUR 99,000 a year ago. Profit attributable to shareholders of the parent was EUR 742,000 against EUR 143,000 a year ago. Diluted EPS for the period was EUR 0.01. Net cash generated by operating activities was EUR 1,694,000 against EUR 1,453,000 a year ago. Investments in tangible and intangible assets for the period were EUR 15,000. Return on equity for the period was 15% against 2.4% a year ago.
For the year, the company reported net sales were EUR 72,497,000 against EUR 70,776,000 a year ago. Operating result was EUR 4,902,000 against EUR 3,370,000 a year ago. Profit before tax was EUR 4,788,000 against EUR 3,389,000 a year ago. Profit for the period was EUR 3,202,000 against EUR 2,326,000 a year ago. Profit attributable to shareholders of the parent was EUR 3,202,000 against EUR 2,373,000 a year ago. Diluted EPS for the period was EUR 0.05 against EUR 0.04 a year ago. Net cash generated by operating activities was EUR 1,971,000 against EUR 3,376,000 a year ago. Investments in tangible and intangible assets for the period were EUR 57,000 against EUR 229,000 a year ago. Return on equity for the period was 17.2% against 15.3% a year ago.
In 2012, net sales are expected to grow from 2011. Comparable operating result is estimated to remain at the same level as in 2011.
Dovre Group Oyj is a Finland-based company that provides advisory services, project management solutions and project personnel. The Company operates two business segments, namely Project Personnel and Consulting. The Project Personnel segment offers recruitment and mobility services, as well as project advisory services primarily within oil and gas, energy and infrastructure industries. The Consulting segment provides management consulting and project management services, such as strategic consulting, third party analyses, organizational improvement, among others. The Company focuses on the implementation processes for initiating, planning, executing, controlling and closing projects. In addition, the Company deploys project management information technology (IT) tools, both in-house and cloud-based solutions. The Company operates domestically and in Canada, Norway, the Russian Federation, Singapore, the United Arab Emirates and the United States.
Dovre Group Plc Reports Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011; Provides Earnings Outlook for the Year 2012