Fondia plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2018
August 30, 2018 at 05:31 am
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Fondia Plc reported unaudited consolidated earnings results for the six months ended June 30, 2018. For the six months, the reported net sales of EUR 10,696,000 compared to EUR 8,840,000 a year ago. Operating profit was EUR 1,617,000 compared to EUR 1,145,000 a year ago. Profit before appropriations and taxes were EUR 1,598,000 compared to EUR 817,000 a year ago. Profit for period was EUR 1,261,000 compared to EUR 622,000 a year ago. Cash flow from operating activities was EUR 1,661,000 compared to EUR 177,000 a year ago. Investments in intangible and tangible assets were EUR 230,000 compared to EUR 72,000 a year ago. ROE was 18.9% compared to 14.4% a year ago. Comparable operating profit was EUR 1,617,000 compared to EUR 1,392,000 a year ago. Comparable profit for the period was EUR 1,261,000 compared to EUR 1,085,000 a year ago. Net earnings per share was EUR 0.32 compared to EUR 0.17 a year ago. Net sales increased by 21.0% from the comparison period. The Swedish acquisition is estimated to account for approximately 8% of the growth in net sales. In total, Swedish operations accounted for approximately 15% of total net sales. An increase in the number and volume of customers was the biggest contributing factor to the growth in net sales.
Fondia Oyj is a Finland-based legal service provider. The Company provides a full range of legal services for businesses, including both outsourced legal services in the form of its legal department as a service (LDaaS) service concept, as well as project-based services, such as mergers and acquisitions (M&A), financing, taxation, litigation and dispute resolution, among others. The Company is present in Finland, Sweden, Estonia and Lithuania. Fondia Oyj is a member of GGI Geneva Group International, an alliance of accounting, consulting and law firms located around the globe.